Lemonade, Inc. (NYSE:LMND) Stock Now Rated “Hold” by Sell-Side Brokerages

Lemonade, Inc. (NYSE:LMND) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.50.

A number of analysts have weighed in on LMND shares. Morgan Stanley cut their target price on shares of Lemonade from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, October 15th. Wall Street Zen raised Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research note on Thursday, July 30th. Finally, Piper Sandler reduced their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th.

Insider Buying and Selling

In other Lemonade news, insider Maya Prosor sold 1,040 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total transaction of $56,815.20. Following the sale, the insider owned 186,533 shares of the company’s stock, valued at approximately $10,190,297.79. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the transaction, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. This represents a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,148 shares of company stock worth $804,250 in the last 90 days. Corporate insiders own 12.20% of the company’s stock.

Institutional Trading of Lemonade

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Lemonade in the second quarter valued at $393,408,000. Bank of America Corp DE raised its holdings in shares of Lemonade by 52.1% in the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after purchasing an additional 123,484 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Lemonade during the second quarter valued at about $13,861,000. Canada Pension Plan Investment Board purchased a new position in Lemonade during the second quarter worth about $13,550,000. Finally, Man Group plc bought a new position in shares of Lemonade during the 2nd quarter worth approximately $8,864,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Down 4.1%

Shares of LMND stock opened at $41.18 on Thursday. Lemonade has a twelve month low of $41.10 and a twelve month high of $99.90. The business has a fifty day simple moving average of $47.61 and a 200 day simple moving average of $58.45. The company has a market cap of $3.19 billion, a P/E ratio of -22.50 and a beta of 1.87.

About Lemonade

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade’s product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.