Morgan Stanley Upgrades Lemonade (NYSE:LMND) to Equal Weight

Morgan Stanley upgraded shares of Lemonade (NYSE:LMND) from an underweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $42.00 target price on the stock, up from their previous target price of $23.00.

Other 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 report on Wednesday, October 9th. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Stock Down 2.1 %

NYSE LMND opened at $49.29 on Wednesday. The firm has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. The company has a 50 day moving average price of $22.98 and a 200 day moving average price of $19.51. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.88) EPS. On average, equities research analysts anticipate that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the sale, the director now directly owns 40,916 shares in the company, valued at $1,240,982.28. This trade represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock valued at $3,783,045 in the last ninety days. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of hedge funds have recently added to or reduced their stakes in LMND. Barclays PLC raised its position in Lemonade by 292.5% during 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. Main Management ETF Advisors LLC acquired a new position in Lemonade during the third quarter worth $614,000. State Street Corp raised its position in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after acquiring an additional 3,403 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Lemonade during the third quarter worth $1,571,000. 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.