Lemonade, Inc. (NYSE:LMND) Given Consensus Recommendation of "Reduce" by Analysts
Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have received an average recommendation of "Reduce" from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.00.
Separately, Piper Sandler dropped 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.
Get Our Latest Analysis on LMND
In related news, insider John Sheldon Peters sold 1,899 shares of the business's 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 transaction, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 10,452,476 shares of the company's stock, valued at approximately $389,041,156.72. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,634 shares of company stock valued at $9,219,003 over the last three months. Corporate insiders own 12.50% of the company's stock.
A number of institutional investors have recently bought and sold shares of LMND. Intech Investment Management LLC bought a new position in shares of Lemonade during the 3rd quarter valued at approximately $264,000. FMR LLC lifted its stake in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company's stock valued at $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Verition Fund Management LLC bought a new position in Lemonade during the third quarter valued at $1,571,000. Point72 Asia Singapore Pte. Ltd. increased its position in Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company's stock worth $74,000 after buying an additional 3,403 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company's stock valued at $20,343,000 after buying an additional 14,028 shares during the period. Institutional investors own 80.30% of the company's stock.
Shares of NYSE:LMND opened at $31.61 on Wednesday. Lemonade has a 1 year low of $14.03 and a 1 year high of $53.85. The business's 50-day moving average is $34.50 and its 200-day moving average is $32.14. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -10.40 and a beta of 2.12.
Lemonade (NYSE:LMND - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.19. The business had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Analysts anticipate that Lemonade will post -3.03 EPS for the current year.
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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