Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 316,122 Shares of Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 316,122 shares of Lemonade stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $31.14, for a total value of $9,844,039.08. Following the completion of the transaction, the insider now directly owns 8,970,683 shares of the company’s stock, valued at $279,347,068.62. This represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Softbank Group Capital Ltd also recently made the following trade(s):

• On Monday, May 5th, Softbank Group Capital Ltd sold 398,215 shares of Lemonade stock. The shares were sold at an average price of $30.27, for a total value of $12,053,968.05.
• On Friday, May 2nd, Softbank Group Capital Ltd sold 422,177 shares of Lemonade stock. The stock was sold at an average price of $30.17, for a total transaction of $12,737,080.09.
• On Monday, April 28th, Softbank Group Capital Ltd sold 500 shares of Lemonade stock. The stock was sold at an average price of $30.00, for a total transaction of $15,000.00.
• On Wednesday, March 26th, Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20.
• On Monday, March 24th, Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00.

Lemonade Price Performance

Lemonade stock opened at $31.07 on Friday. The business has a 50 day moving average of $30.87 and a 200-day moving average of $34.11. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The company has a market capitalization of $2.28 billion, a P/E ratio of -10.22 and a beta of 2.13.

Lemonade (NYSE:LMND) last released its quarterly earnings results 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 net margin of 43.51% and a negative return on equity of 32.85%. During the same quarter in the prior year, the company posted ($0.67) EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in shares of Lemonade by 300.4% during the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after acquiring an additional 700 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Lemonade during the 4th quarter valued at approximately $40,000. Russell Investments Group Ltd. raised its holdings in Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Lemonade in the 1st quarter worth approximately $41,000. Finally, BNP Paribas bought a new stake in shares of Lemonade in the 4th quarter valued at $57,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LMND shares. Keefe, Bruyette & Woods dropped their price objective on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler reduced their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Lemonade has a consensus rating of “Hold” and an average target price of $28.17.

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.