Shares of Lemonade, Inc. (NYSE:LMND – Get Free Report) have received an average recommendation of “Reduce” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.17.
LMND has been the topic of a number of recent research reports. Piper Sandler cut their price target 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. Keefe, Bruyette & Woods cut their target price on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley cut Lemonade from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th.
Get Our Latest Research Report on LMND
Lemonade Stock Performance
Lemonade (NYSE:LMND – Get Free Report) last issued its 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%. During the same period last year, the company posted ($0.67) earnings per share. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts predict that Lemonade will post -3.03 earnings per share for the current year.
Insider Buying and Selling
In other news, insider John Sheldon Peters sold 1,494 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total value of $52,663.50. Following the sale, the insider now owns 106,115 shares of the company’s stock, valued at $3,740,553.75. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the firm’s stock in a transaction dated 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 now owns 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. Insiders sold a total of 2,744,737 shares of company stock valued at $87,411,365 over the last three months. Company insiders own 14.70% of the company’s stock.
Institutional Investors Weigh In On Lemonade
Several institutional investors have recently made changes to their positions in LMND. SVB Wealth LLC acquired a new stake in shares of Lemonade in the 1st quarter valued at approximately $26,000. Quarry LP lifted its holdings in Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Lemonade during the 1st quarter worth approximately $35,000. Hollencrest Capital Management acquired a new stake in Lemonade in the first quarter worth $41,000. Finally, Russell Investments Group Ltd. increased its position in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after buying an additional 867 shares in 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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