Lemonade (NYSE:LMND) Given Underweight Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Lemonade (NYSE:LMND - Free Report) in a report issued on Monday morning, Marketbeat.com reports. They currently have a $26.00 target price on the stock, up from their previous target price of $24.00.

Other analysts have also issued reports about the company. BMO Capital Markets raised their target price on Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Lemonade from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $26.00 price target (up previously from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $30.50.

Lemonade Stock Performance

Shares of LMND stock traded up $0.28 during trading hours on Monday, hitting $40.21. The company had a trading volume of 816,401 shares, compared to its average volume of 2,107,842. Lemonade has a 12 month low of $14.90 and a 12 month high of $53.85. The firm's fifty day moving average is $37.78 and its 200 day moving average is $34.43. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -13.25 and a beta of 2.20.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly 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 firm's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.67) earnings per share. On average, sell-side analysts expect that Lemonade will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, COO Adina Eckstein sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the chief operating officer directly owned 189,653 shares in the company, valued at approximately $8,534,385. This trade represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 387,282 shares of Lemonade stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $32.84, for a total transaction of $12,718,340.88. Following the completion of the sale, the insider owned 7,111,441 shares of the company's stock, valued at $233,539,722.44. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,509,545 shares of company stock worth $78,775,964 over the last three months. Insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Lemonade by 2,627.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after acquiring an additional 1,299,891 shares during the last quarter. Vanguard Group Inc. lifted its position in Lemonade by 14.9% in the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock valued at $192,931,000 after purchasing an additional 794,952 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Lemonade during the fourth quarter worth about $22,066,000. Voloridge Investment Management LLC purchased a new position in shares of Lemonade during the fourth quarter valued at approximately $21,310,000. Finally, Two Sigma Advisers LP bought a new stake in Lemonade during the 4th quarter valued at approximately $15,412,000. Institutional investors and hedge funds own 80.30% of the company's stock.

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.