Wall Street Zen Upgrades Lemonade (NYSE:LMND) to “Hold”

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

A number of other analysts also recently issued reports on LMND. BMO Capital Markets lifted their target price on Lemonade from $15.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $26.00 price target (up from $22.00) on shares of Lemonade in a research note on Tuesday. Finally, Morgan Stanley cut Lemonade from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.17.

Lemonade Stock Up 0.6%

Shares of LMND opened at $42.27 on Friday. The company has a 50 day moving average of $36.06 and a 200-day moving average of $34.44. The stock has a market capitalization of $3.10 billion, a P/E ratio of -13.90 and a beta of 2.20. Lemonade has a twelve month low of $14.90 and a twelve month high of $53.85.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (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%. During the same quarter last year, the business earned ($0.67) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total value of $12,718,340.88. Following the sale, the insider owned 7,111,441 shares in the company, valued at $233,539,722.44. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Adina Eckstein sold 5,000 shares of Lemonade stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the chief operating officer owned 189,653 shares of the company’s stock, valued at $8,534,385. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,509,545 shares of company stock valued at $78,775,964. 14.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lemonade

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Lemonade by 14.9% in the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock valued at $192,931,000 after purchasing an additional 794,952 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after buying an additional 1,299,891 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after buying an additional 41,759 shares during the period. Two Sigma Investments LP acquired a new position in Lemonade in the 4th quarter valued at about $22,066,000. Finally, Voloridge Investment Management LLC bought a new position in Lemonade in the 4th quarter valued at about $21,310,000. Institutional investors own 80.30% of the company’s stock.

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.