Brokerages Set Lemonade, Inc. (NYSE:LMND) PT at $31.00

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

A number of equities analysts recently issued reports on LMND shares. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. JMP Securities raised their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets upped their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Finally, Piper Sandler reduced their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $34.92 on Friday. The stock’s 50-day moving average is $34.26 and its 200-day moving average is $30.61. The company has a market cap of $2.54 billion, a P/E ratio of -11.49 and a beta of 2.12. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. As a group, equities analysts predict that Lemonade will post -3.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the transaction, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 757,766 shares of company stock worth $33,369,646 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. FMR LLC increased its position in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after acquiring an additional 153,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Lemonade by 99.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after purchasing an additional 27,265 shares in the last quarter. GSA Capital Partners LLP raised its position in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after purchasing an additional 42,822 shares during the last quarter. Verition Fund Management LLC acquired a new position in Lemonade during the 3rd quarter worth $1,571,000. Finally, Strategic Financial Concepts LLC bought a new position in Lemonade in the 4th quarter valued at $2,712,000. Institutional investors own 80.30% of the company’s stock.

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.