Lemonade (NYSE:LMND) Earns “Equal Weight” Rating from Morgan Stanley

Lemonade (NYSE:LMND)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $75.00 price target on the stock. Morgan Stanley’s target price indicates a potential downside of 3.49% from the company’s previous close.

LMND has been the topic of several other research reports. Citizens Jmp reduced their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Truist Financial cut their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. UBS Group set a $75.00 price target on shares of Lemonade in a research note on Thursday, May 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Lemonade has a consensus rating of “Hold” and a consensus price target of $64.89.

Lemonade Stock Down 1.3%

NYSE:LMND opened at $77.72 on Wednesday. Lemonade has a 52 week low of $35.70 and a 52 week high of $99.90. The stock’s fifty day moving average is $58.54 and its two-hundred day moving average is $65.26. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -41.56 and a beta of 1.79.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company’s quarterly revenue was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.86) EPS. On average, sell-side analysts expect that Lemonade will post -1.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 3,608 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the sale, the insider directly owned 81,386 shares in the company, valued at approximately $4,308,574.84. This trade represents a 4.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 6,563 shares of company stock worth $348,125. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LMND. Vanguard Group Inc. boosted its holdings in Lemonade by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after purchasing an additional 26,312 shares in the last quarter. Clear Street Group Inc. acquired a new stake in Lemonade during the fourth quarter worth approximately $2,448,000. Pursue Wealth Partners LLC acquired a new stake in Lemonade during the fourth quarter worth approximately $2,814,000. Halter Ferguson Financial Inc. lifted its position in shares of Lemonade by 4.3% during the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock worth $42,769,000 after buying an additional 24,957 shares during the last quarter. Finally, Atika Capital Management LLC purchased a new stake in shares of Lemonade during the 3rd quarter worth approximately $3,694,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.