Lemonade (NYSE:LMND) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lemonade (NYSE:LMND) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also commented on the company. Morgan Stanley decreased their price target on Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Finally, Piper Sandler lowered their target price on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus price target of $64.50.

Lemonade Trading Up 2.1%

Shares of LMND stock opened at $48.06 on Friday. The stock has a 50 day simple moving average of $54.32 and a 200-day simple moving average of $58.17. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -26.26 and a beta of 1.87. Lemonade has a 12-month low of $46.16 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period in the previous year, the firm earned ($0.60) EPS. The business’s revenue was up 79.4% on a year-over-year basis. On average, equities analysts forecast that Lemonade will post -1.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Maya Prosor sold 1,040 shares of Lemonade stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total transaction of $56,815.20. Following the completion of the transaction, the insider directly owned 186,533 shares in the company, valued at $10,190,297.79. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 2,249 shares of Lemonade stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $54.45, for a total value of $122,458.05. Following the transaction, the insider owned 73,834 shares of the company’s stock, valued at $4,020,261.30. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,592 shares of company stock worth $1,076,326 in the last ninety days. Insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Lemonade during the second quarter valued at $30,000. State of Wyoming acquired a new position in Lemonade in the 1st quarter valued at about $42,000. Larson Financial Group LLC lifted its holdings in Lemonade by 2,181.2% in the 4th quarter. Larson Financial Group LLC now owns 1,574 shares of the company’s stock valued at $112,000 after purchasing an additional 1,505 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Lemonade by 182.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,596 shares of the company’s stock valued at $114,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Lemonade during the 2nd quarter worth about $128,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.