Lemonade, Inc. (NYSE:LMND) Receives Average Rating of “Reduce” from Brokerages

Lemonade, Inc. (NYSE:LMND) has been given an average recommendation of “Reduce” by the six ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.67.

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. 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 note on Friday, November 22nd. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. BMO Capital Markets raised their price target 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, Piper Sandler raised their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st.

Lemonade Price Performance

Lemonade stock opened at $36.11 on Tuesday. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85. The stock has a market capitalization of $2.58 billion, a P/E ratio of -11.88 and a beta of 2.15. The firm’s 50-day moving average is $36.27 and its two-hundred day moving average is $28.35.

Insider Buying and Selling

In other Lemonade news, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $9,482,650. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction that occurred on 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 transaction, the insider now directly owns 69,508 shares in the company, valued at approximately $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 823,301 shares of company stock valued at $36,550,924. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Lemonade by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock valued at $195,999,000 after purchasing an additional 134,776 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after purchasing an additional 1,299,891 shares during the period. State Street Corp raised its stake in shares of Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Lemonade during the fourth quarter valued at approximately $22,066,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Lemonade during the fourth quarter valued at approximately $21,310,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.