Brokerages Set Lemonade, Inc. (NYSE:LMND) PT at $30.43

Lemonade, Inc. (NYSE:LMND) has been given an average recommendation of “Reduce” by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.43.

LMND has been the subject of a number of analyst reports. JMP Securities boosted their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th.

Lemonade Trading Up 3.4 %

LMND stock opened at $41.27 on Monday. The stock’s 50 day simple moving average is $35.44 and its 200 day simple moving average is $23.94. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85. The firm has a market cap of $2.95 billion, a P/E ratio of -13.58 and a beta of 2.08.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same period in the previous year, the firm posted ($0.88) earnings per share. Lemonade’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Lemonade will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total transaction of $81,445.00. Following the completion of the sale, the insider now owns 88,493 shares in the company, valued at approximately $4,026,431.50. This represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 871,514 shares of company stock worth $37,993,527. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several hedge funds and other institutional investors have recently made changes to their positions in LMND. FMR LLC increased its holdings in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Lemonade by 99.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock worth $903,000 after acquiring an additional 27,265 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Lemonade during the 3rd quarter worth approximately $1,571,000. GSA Capital Partners LLP increased its position in shares of Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Lemonade by 1,549.0% in the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares in the last quarter. 80.30% of the stock is 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.