Brokerages Set Lemonade, Inc. (NYSE:LMND) PT at $32.67
Lemonade, Inc. (NYSE:LMND - Get Free Report) has been given an average rating of "Reduce" by the six ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $32.67.
LMND has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered shares of Lemonade from a "market perform" rating to an "underperform" rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. BMO Capital Markets upped their price target on Lemonade from $13.00 to $15.00 and gave the stock an "underperform" rating in a research note on Thursday, November 21st. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the company a "market outperform" rating in a research note on Friday, November 22nd. Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Finally, Morgan Stanley upgraded shares of Lemonade from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $23.00 to $42.00 in a report on Wednesday, November 20th.
Read Our Latest Stock Analysis on LMND
In other news, COO Adina Eckstein sold 23,644 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 189,653 shares of the company's stock, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $31,880,606.35. Following the completion of the sale, the insider now directly owns 11,263,569 shares of the company's stock, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 846,945 shares of company stock valued at $37,496,684. 12.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new position in shares of Lemonade in the fourth quarter valued at $40,000. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 867 shares during the last quarter. Blue Trust Inc. raised its position in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company's stock worth $45,000 after purchasing an additional 1,879 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after purchasing an additional 860 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Lemonade during the fourth quarter valued at $67,000. 80.30% of the stock is owned by institutional investors.
LMND opened at $37.07 on Tuesday. The stock has a market capitalization of $2.65 billion, a PE ratio of -12.19 and a beta of 2.15. The company's 50 day simple moving average is $36.84 and its 200 day simple moving average is $27.96. Lemonade has a 1 year low of $14.03 and a 1 year high of $53.85.
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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