Lemonade (NYSE:LMND) Given New $22.00 Price Target at Keefe, Bruyette & Woods

Lemonade (NYSE:LMND) had its price objective cut by analysts at Keefe, Bruyette & Woods from $25.00 to $22.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 14.46% from the stock’s current price.

LMND has been the topic of a number of other research reports. Piper Sandler lowered their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus target price of $28.17.

Lemonade Stock Performance

Shares of LMND stock opened at $25.72 on Tuesday. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -8.46 and a beta of 2.13. The firm’s 50-day moving average is $32.50 and its 200-day moving average is $33.18.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Sell-side analysts predict that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20. Following the transaction, the insider now directly owns 10,452,476 shares of the company’s stock, valued at approximately $389,041,156.72. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the sale, the insider now directly owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 248,634 shares of company stock worth $9,219,003 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of LMND. Quarry LP boosted its holdings in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after buying an additional 700 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Lemonade during the 4th quarter worth $40,000. Russell Investments Group Ltd. increased its holdings in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after acquiring an additional 867 shares during the last quarter. BNP Paribas purchased a new stake in Lemonade during the fourth quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Lemonade by 116.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after purchasing an additional 860 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

About Lemonade

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.