Keefe, Bruyette & Woods Cuts Lemonade (NYSE:LMND) Price Target to $22.00

Lemonade (NYSE:LMND - Get Free Report) had its price target dropped by Keefe, Bruyette & Woods from $25.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential downside of 25.52% from the stock's current price.

A number of other research firms also recently commented on LMND. Morgan Stanley downgraded Lemonade from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Piper Sandler cut their target price on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Lemonade has a consensus rating of "Hold" and an average target price of $28.17.

Lemonade Stock Performance

Shares of Lemonade stock traded up $0.16 during trading hours on Tuesday, hitting $29.54. The company's stock had a trading volume of 1,098,432 shares, compared to its average volume of 1,922,589. The company has a market cap of $2.15 billion, a PE ratio of -9.72 and a beta of 2.13. The business has a 50 day moving average price of $31.83 and a two-hundred day moving average price of $33.29. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. As a group, research analysts anticipate that Lemonade will post -3.03 earnings per share for the current year.

Insider Activity at Lemonade

In related news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the sale, the insider now owns 87,609 shares in the company, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the transaction, the insider now owns 10,494,636 shares in the company, valued at $389,141,102.88. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,634 shares of company stock worth $9,219,003. Company insiders own 12.50% of the company's stock.

Institutional Trading of Lemonade

A number of large investors have recently modified their holdings of LMND. Strategic Financial Concepts LLC purchased a new stake in shares of Lemonade in the 4th quarter worth $2,712,000. Barclays PLC lifted its stake in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company's stock worth $1,443,000 after acquiring an additional 65,144 shares during the period. Mandatum Life Insurance Co Ltd bought a new position in Lemonade during the 4th quarter worth about $378,000. Watershed Private Wealth LLC purchased a new position in Lemonade during the 4th quarter valued at about $286,000. Finally, Woodward Diversified Capital LLC bought a new stake in shares of Lemonade in the 4th quarter valued at about $381,000. Hedge funds and other 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.