Lemonade, Inc. (NYSE:LMND) Receives $31.00 Average PT from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been assigned an average recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $28.00.

A number of research firms recently commented on LMND. Piper Sandler decreased their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley cut Lemonade from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $35.00 to $24.00 in a report on Tuesday.

Lemonade Trading Down 10.6 %

NYSE LMND opened at $25.14 on Wednesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -8.27 and a beta of 2.13. The business’s 50 day moving average is $33.96 and its two-hundred day moving average is $32.45. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Equities analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the sale, the insider now directly owns 87,609 shares in the company, valued at $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the transaction, the insider now directly owns 10,452,476 shares in the company, valued at $389,041,156.72. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 248,634 shares of company stock worth $9,219,003 in the last ninety days. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in Lemonade by 300.4% during the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Lemonade during the 4th quarter worth $40,000. Russell Investments Group Ltd. raised its position in shares of Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after buying an additional 867 shares during the period. BNP Paribas acquired a new position in Lemonade in the fourth quarter valued at $57,000. Finally, PNC Financial Services Group Inc. grew its position in Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after acquiring an additional 860 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.