Lemonade’s (LMND) Underweight Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of Lemonade (NYSE:LMND) in a research report report published on Monday, Marketbeat.com reports. They currently have a $26.00 target price on the stock, up from their prior target price of $24.00.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. BMO Capital Markets increased their price target on shares of Lemonade from $15.00 to $23.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $26.00 price target (up previously from $22.00) on shares of Lemonade in a research note on Tuesday, July 1st. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Lemonade has a consensus rating of “Hold” and an average target price of $30.50.

Lemonade Trading Up 5.5%

Lemonade stock opened at $40.29 on Monday. The firm has a market capitalization of $2.95 billion, a P/E ratio of -13.25 and a beta of 2.20. The stock has a fifty day moving average price of $37.42 and a 200 day moving average price of $34.36. Lemonade has a 52 week low of $14.90 and a 52 week high of $53.85.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the business earned ($0.67) earnings per share. As a group, equities analysts predict that Lemonade will post -3.03 EPS for the current year.

Insider Activity at Lemonade

In related news, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the sale, the insider directly owned 106,115 shares in the company, valued at approximately $4,775,175. This represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adina Eckstein sold 5,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the chief operating officer owned 189,653 shares of the company’s stock, valued at approximately $8,534,385. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,509,545 shares of company stock worth $78,775,964. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several large investors have recently added to or reduced their stakes in LMND. JPMorgan Chase & Co. grew its stake in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after acquiring an additional 1,299,891 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Lemonade by 14.9% during the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock worth $192,931,000 after purchasing an additional 794,952 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Lemonade during the fourth quarter worth about $22,066,000. Voloridge Investment Management LLC bought a new position in shares of Lemonade during the fourth quarter worth about $21,310,000. Finally, Two Sigma Advisers LP bought a new position in shares of Lemonade during the fourth quarter worth about $15,412,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.