Lemonade (NYSE:LMND) Raised to Hold at Wall Street Zen

Lemonade (NYSE:LMND) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also commented on LMND. Morgan Stanley lowered shares of Lemonade from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $26.00 price target (up from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Finally, BMO Capital Markets increased their price target on shares of Lemonade from $15.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average price target of $30.17.

Lemonade Trading Up 0.6%

Shares of LMND opened at $42.27 on Friday. The firm’s 50-day moving average is $36.06 and its two-hundred day moving average is $34.38. Lemonade has a twelve month low of $14.90 and a twelve month high of $53.85. The firm has a market capitalization of $3.10 billion, a P/E ratio of -13.90 and a beta of 2.20.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. Lemonade’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.67) earnings per share. Analysts predict that Lemonade will post -3.03 EPS for the current year.

Insider Activity at Lemonade

In related news, insider John Sheldon Peters sold 6,543 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the transaction, the insider owned 106,115 shares of the company’s stock, valued at approximately $4,775,175. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Adina Eckstein sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the chief operating officer directly owned 189,653 shares in the company, valued at $8,534,385. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,509,545 shares of company stock valued at $78,775,964. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently modified their holdings of LMND. SVB Wealth LLC purchased a new position in Lemonade during the first quarter worth approximately $26,000. Quarry LP raised its stake in Lemonade by 300.4% during the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares during the period. NewEdge Advisors LLC purchased a new position in Lemonade during the first quarter worth approximately $35,000. Hollencrest Capital Management purchased a new position in Lemonade during the first quarter worth approximately $41,000. Finally, Russell Investments Group Ltd. raised its stake in Lemonade by 318.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the period. Hedge funds and other 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.