Lemonade's (LMND) Underperform Rating Reiterated at Keefe, Bruyette & Woods

Lemonade (NYSE:LMND - Get Free Report)'s stock had its "underperform" rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $26.00 target price on the stock, up from their previous target price of $22.00. Keefe, Bruyette & Woods' target price points to a potential downside of 41.74% from the company's current price.

Separately, Morgan Stanley cut Lemonade from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.83.

Lemonade Stock Up 1.9%

Shares of LMND stock traded up $0.82 during mid-day trading on Tuesday, reaching $44.63. The stock had a trading volume of 3,323,817 shares, compared to its average volume of 2,091,641. The firm has a market cap of $3.27 billion, a PE ratio of -14.71 and a beta of 2.14. Lemonade has a one year low of $14.90 and a one year high of $53.85. The firm's 50 day simple moving average is $34.94 and its 200 day simple moving average is $34.34.

Lemonade (NYSE:LMND - Get Free Report) last posted 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 return on equity of 36.72% and a negative net margin of 38.90%. During the same quarter last year, the company posted ($0.67) EPS. Lemonade's revenue was up 27.0% compared to the same quarter last year. Sell-side analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LMND. Jones Financial Companies Lllp increased its holdings in Lemonade by 6.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock valued at $215,000 after purchasing an additional 375 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Lemonade by 3.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock worth $346,000 after buying an additional 380 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Lemonade by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock valued at $200,000 after acquiring an additional 423 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Lemonade by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock valued at $5,545,000 after acquiring an additional 442 shares during the period. Finally, US Bancorp DE boosted its stake in Lemonade by 28.3% during the 1st quarter. US Bancorp DE now owns 2,406 shares of the company's stock worth $76,000 after acquiring an additional 531 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

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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