Lemonade’s (LMND) Underweight Rating Reaffirmed at Morgan Stanley

Lemonade (NYSE:LMND)‘s stock had its “underweight” rating reiterated by equities research analysts at Morgan Stanley in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $26.00 price objective on the stock, up from their previous price objective of $24.00. Morgan Stanley’s price objective points to a potential downside of 33.14% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods restated an “underperform” rating and set a $26.00 target price (up from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. Wall Street Zen raised Lemonade from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, BMO Capital Markets upped their price target on Lemonade from $15.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Lemonade Stock Down 3.4%

LMND opened at $38.89 on Monday. Lemonade has a 12-month low of $14.90 and a 12-month high of $53.85. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -12.79 and a beta of 2.20. The business has a 50 day moving average of $37.59 and a 200-day moving average of $34.39.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. During the same period in the prior year, the business posted ($0.67) EPS. The company’s revenue was up 27.0% compared to the same quarter last year. As a group, analysts expect that Lemonade will post -3.03 earnings per share for the current year.

Insider Transactions at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of Lemonade 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 completion of the transaction, the insider directly owned 7,111,441 shares in the company, valued at $233,539,722.44. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Sheldon Peters sold 6,543 shares of Lemonade stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the transaction, the insider owned 106,115 shares of the company’s stock, valued at approximately $4,775,175. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,509,545 shares of company stock worth $78,775,964 over the last quarter. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in Lemonade by 3.6% during the first quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company’s stock worth $346,000 after buying an additional 380 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Lemonade by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock worth $200,000 after buying an additional 423 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Lemonade by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after buying an additional 442 shares during the last quarter. US Bancorp DE lifted its position in shares of Lemonade by 28.3% during the first quarter. US Bancorp DE now owns 2,406 shares of the company’s stock worth $76,000 after purchasing an additional 531 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Lemonade by 30.2% during the first quarter. CWM LLC now owns 2,813 shares of the company’s stock worth $88,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds 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.