Lemonade, Inc. (NYSE:LMND) Given Consensus Rating of "Reduce" by Brokerages

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have been given an average recommendation of "Reduce" by the six analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $30.17.

Several analysts have recently issued reports on LMND shares. Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $26.00 target price (up from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Wall Street Zen raised shares of Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, BMO Capital Markets raised their target price on shares of Lemonade from $15.00 to $23.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 2nd.

Lemonade Stock Down 4.7%

Shares of NYSE LMND opened at $39.82 on Friday. Lemonade has a twelve month low of $14.90 and a twelve month high of $53.85. The firm has a market cap of $2.92 billion, a P/E ratio of -13.10 and a beta of 2.20. The company has a 50 day moving average of $37.05 and a 200 day moving average of $34.49.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates 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 company's revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.67) EPS. As a group, equities analysts expect that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 500,000 shares of Lemonade stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $32.25, for a total value of $16,125,000.00. Following the sale, the insider owned 7,498,723 shares in the company, valued at $241,833,816.75. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Sheldon Peters sold 6,543 shares of Lemonade stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the completion of the sale, the insider owned 106,115 shares in the company, valued at approximately $4,775,175. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,509,545 shares of company stock valued at $78,775,964. Corporate insiders own 14.70% of the company's stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Lemonade in the 1st quarter valued at approximately $26,000. Quarry LP raised its stake in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company's stock valued at $34,000 after acquiring an additional 700 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the 1st quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new stake in shares of Lemonade in the 1st quarter valued at approximately $41,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock valued at $42,000 after acquiring an additional 867 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.

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