Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of "Reduce" from Analysts

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have been assigned a consensus rating of "Reduce" from the six research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $28.17.

LMND has been the subject of several research analyst reports. Morgan Stanley lowered shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $35.00 to $24.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th.

Lemonade Stock Down 2.3 %

LMND traded down $0.69 during trading on Friday, reaching $28.53. 1,001,781 shares of the stock traded hands, compared to its average volume of 1,904,647. The stock's 50-day moving average is $31.37 and its 200 day moving average is $33.63. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85. The stock has a market capitalization of $2.09 billion, a PE ratio of -9.39 and a beta of 2.13.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. As a group, equities research analysts anticipate that Lemonade will post -3.03 EPS for the current year.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were 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 owns 87,609 shares in the company, valued at $2,960,308.11. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the transaction, the insider now directly owns 10,494,636 shares in the company, valued at $389,141,102.88. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,134 shares of company stock valued at $9,234,003. Corporate insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in Lemonade during the fourth quarter worth $2,712,000. Barclays PLC raised its stake in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company's stock worth $1,443,000 after purchasing an additional 65,144 shares during the period. Mandatum Life Insurance Co Ltd purchased a new position in shares of Lemonade in the 4th quarter worth about $378,000. Watershed Private Wealth LLC purchased a new stake in Lemonade during the fourth quarter worth about $286,000. Finally, Woodward Diversified Capital LLC bought a new stake in Lemonade in the fourth quarter worth about $381,000. Institutional investors own 80.30% of the company's stock.

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.