Lemonade (NYSE:LMND) Stock Rating Lowered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Lemonade (NYSE:LMND - Free Report) from a market perform rating to an underperform rating in a research note published on Thursday, Marketbeat Ratings reports. They currently have $21.00 price objective on the stock, up from their previous price objective of $18.00.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 9th. Piper Sandler boosted their price objective on shares of Lemonade from $18.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, JMP Securities reiterated a "market outperform" rating and set a $40.00 target price on shares of Lemonade in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $21.83.

Lemonade Stock Down 6.7 %

Shares of LMND stock traded down $1.97 during trading hours on Thursday, hitting $27.32. 3,157,111 shares of the company's stock traded hands, compared to its average volume of 1,632,632. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -9.09 and a beta of 1.68. The stock's fifty day simple moving average is $18.58 and its two-hundred day simple moving average is $17.91. Lemonade has a 12-month low of $13.72 and a 12-month high of $29.41.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $136.60 million during the quarter, compared to analysts' expectations of $129.10 million. During the same quarter in the previous year, the business earned ($0.88) earnings per share. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Lemonade will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Lemonade in the 2nd quarter worth $14,181,000. General Equity Holdings LP bought a new stake in Lemonade during the second quarter valued at about $5,198,000. GSA Capital Partners LLP increased its position in Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company's stock worth $2,983,000 after buying an additional 42,822 shares in the last quarter. Millennium Management LLC increased its position in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company's stock worth $2,734,000 after buying an additional 131,784 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lemonade by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company's stock worth $1,853,000 after buying an additional 9,107 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.