Lemonade (NYSE:LMND) Earns Underweight Rating from Morgan Stanley

Lemonade (NYSE:LMND)‘s stock had its “underweight” rating reissued by investment analysts at Morgan Stanley in a report issued on Monday, MarketBeat.com reports. They presently have a $26.00 target price on the stock, up from their previous target price of $24.00. Morgan Stanley’s price target suggests a potential downside of 33.14% from the company’s current price.

LMND has been the subject of several other reports. Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. BMO Capital Markets boosted their target price on shares of Lemonade from $15.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $26.00 price objective (up from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.50.

Lemonade Trading Down 3.4%

Shares of LMND stock opened at $38.89 on Monday. Lemonade has a 1 year low of $14.90 and a 1 year high of $53.85. The firm’s 50 day moving average is $37.59 and its 200-day moving average is $34.39. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -12.79 and a beta of 2.20.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. Lemonade’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.67) EPS. On average, equities research analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, insider John Sheldon Peters sold 6,543 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the completion of the transaction, the insider owned 106,115 shares of the company’s stock, valued at $4,775,175. This represents a 5.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Softbank Group Capital Ltd sold 500,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.25, for a total transaction of $16,125,000.00. Following the completion of the sale, the insider directly owned 7,498,723 shares of the company’s stock, valued at $241,833,816.75. This trade represents a 6.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,509,545 shares of company stock valued at $78,775,964 in the last 90 days. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

Hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in shares of Lemonade during the 1st quarter valued at about $26,000. Quarry LP lifted its holdings in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Lemonade during the 1st quarter valued at about $35,000. Russell Investments Group Ltd. lifted its holdings in shares of Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after buying an additional 867 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of Lemonade during the 1st quarter valued at about $41,000. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

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.