Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have earned a consensus rating of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.43.

A number of equities analysts have commented on LMND shares. Piper Sandler boosted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. BMO Capital Markets raised their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. JMP Securities lifted their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares in the company, valued at approximately $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,892 shares of company stock worth $5,283,045 over the last ninety days. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the period. International Assets Investment Management LLC raised its stake in shares of Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares in the last quarter. Millennium Management LLC lifted its holdings in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the period. Squarepoint Ops LLC grew its position in Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after buying an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Lemonade during the 1st quarter valued at about $718,000. 80.30% of the stock is owned by institutional investors.

Lemonade Price Performance

Shares of LMND opened at $49.16 on Thursday. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85. The stock’s 50-day moving average is $24.89 and its two-hundred day moving average is $20.22. The stock has a market cap of $3.51 billion, a PE ratio of -16.17 and a beta of 1.68.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.88) EPS. On average, research analysts anticipate that Lemonade will post -3.05 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.