Lemonade (NYSE:LMND) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Lemonade (NYSE:LMND) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued reports about the stock. UBS Group set a $75.00 target price on shares of Lemonade in a research note on Thursday, May 21st. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research report on Thursday, July 30th. Truist Financial cut their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Finally, TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average price target of $64.50.

Lemonade Trading Up 0.8%

Shares of LMND stock opened at $53.78 on Friday. The stock has a 50 day moving average of $59.86 and a 200 day moving average of $59.65. The stock has a market cap of $4.16 billion, a P/E ratio of -29.39 and a beta of 1.84. Lemonade has a twelve month low of $46.16 and a twelve month high of $99.90.

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

Insider Transactions at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider directly owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction 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 trade represents a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,007 shares of company stock valued at $1,198,251 over the last quarter. Company insiders own 12.20% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Lemonade during the 2nd quarter worth $393,408,000. California State Teachers Retirement System raised its holdings in Lemonade by 6,592.2% in the 2nd quarter. California State Teachers Retirement System now owns 4,877,709 shares of the company’s stock valued at $317,295,000 after buying an additional 4,804,822 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares during the last quarter. Man Group plc acquired a new position in Lemonade in the fourth quarter valued at about $25,978,000. Finally, Goldman Sachs Group Inc. boosted its stake in Lemonade by 50.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock worth $61,676,000 after buying an additional 291,122 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

About Lemonade

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.