Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $90.29.
A number of analysts have issued reports on LMND shares. Bank of America assumed coverage on Lemonade in a report on Monday, March 15th. They issued an “underperform” rating and a $29.00 target price on the stock. Piper Sandler lowered their target price on shares of Lemonade from $159.00 to $134.00 and set an “overweight” rating on the stock in a report on Tuesday, March 30th. Morgan Stanley increased their price objective on shares of Lemonade from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 12th. Zacks Investment Research lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Friday, March 5th. Finally, Oppenheimer raised shares of Lemonade from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, March 15th.
In other news, CEO Daniel A. Schreiber sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $159.43, for a total transaction of $47,829,000.00. Following the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $7,971,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Becker Caryn Seidman sold 25,000 shares of Lemonade stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $106.80, for a total transaction of $2,670,000.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $2,670,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 961,572 shares of company stock worth $151,129,294.
Several large investors have recently modified their holdings of LMND. Dumac Inc. acquired a new stake in Lemonade during the fourth quarter worth approximately $2,137,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Lemonade in the fourth quarter valued at approximately $78,514,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Lemonade by 10.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 74,050 shares of the company’s stock valued at $9,072,000 after purchasing an additional 6,900 shares in the last quarter. Navis Wealth Advisors LLC bought a new position in shares of Lemonade in the fourth quarter valued at approximately $98,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Lemonade in the fourth quarter valued at approximately $1,842,000. Institutional investors own 48.42% of the company’s stock.
LMND traded up $4.34 during midday trading on Friday, reaching $96.00. The company’s stock had a trading volume of 39,182 shares, compared to its average volume of 3,805,716. The company has a fifty day simple moving average of $108.07 and a 200 day simple moving average of $99.16. Lemonade has a twelve month low of $44.11 and a twelve month high of $188.30.
Lemonade (NYSE:LMND) last released its earnings results on Tuesday, March 2nd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.05. The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $19.22 million. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, analysts anticipate that Lemonade will post -4.36 earnings per share for the current year.
Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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. The company also offers landlord insurance policies to condo and co-op owners who rent out their property to protect their real and personal properties.
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