Lemonade (NYSE:LMND) Upgraded by Wall Street Zen to Hold Rating

Lemonade (NYSE:LMND - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the company. Morgan Stanley cut Lemonade from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. BMO Capital Markets upped their price target on Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and set a $26.00 price objective (up from $22.00) on shares of Lemonade in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.17.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $42.27 on Friday. The firm has a 50 day simple moving average of $36.06 and a 200 day simple moving average of $34.44. Lemonade has a 52 week low of $14.90 and a 52 week high of $53.85. The company has a market cap of $3.10 billion, a PE ratio of -13.90 and a beta of 2.20.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (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 business's revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.67) EPS. On average, equities analysts predict that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In other Lemonade news, COO Adina Eckstein sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the chief operating officer directly owned 189,653 shares of the company's stock, valued at approximately $8,534,385. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total value 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 trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,509,545 shares of company stock worth $78,775,964. Company insiders own 14.70% of the company's stock.

Institutional Trading of Lemonade

A number of large investors have recently bought and sold shares of LMND. The Manufacturers Life Insurance Company boosted its holdings in shares of Lemonade by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock valued at $1,137,000 after buying an additional 2,209 shares during the period. Invesco Ltd. lifted its position in Lemonade by 14.0% in the 4th quarter. Invesco Ltd. now owns 76,718 shares of the company's stock valued at $2,814,000 after acquiring an additional 9,419 shares in the last quarter. Atria Investments Inc bought a new stake in Lemonade in the 4th quarter valued at $353,000. GAMMA Investing LLC boosted its stake in Lemonade by 35,901.8% in the 1st quarter. GAMMA Investing LLC now owns 19,801 shares of the company's stock worth $630,000 after purchasing an additional 19,746 shares during the period. Finally, US Bancorp DE boosted its stake in Lemonade by 574.5% in the 4th quarter. US Bancorp DE now owns 1,875 shares of the company's stock worth $69,000 after purchasing an additional 1,597 shares during the period. 80.30% of the stock is owned by institutional investors.

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.

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