Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells $16,125,000.00 in Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 500,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 7,498,723 shares in the company, valued at approximately $241,833,816.75. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, May 13th, Softbank Group Capital Ltd sold 387,282 shares of Lemonade stock. The shares were sold at an average price of $32.84, for a total transaction of $12,718,340.88.
• On Friday, May 9th, Softbank Group Capital Ltd sold 471,960 shares of Lemonade stock. The shares were sold at an average price of $31.15, for a total transaction of $14,701,554.00.
• On Wednesday, May 7th, Softbank Group Capital Ltd sold 316,122 shares of Lemonade stock. The shares were sold at an average price of $31.14, for a total transaction of $9,844,039.08.
• 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 transaction of $12,053,968.05.
• On Friday, May 2nd, Softbank Group Capital Ltd sold 422,177 shares of Lemonade stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00.

Lemonade Stock Performance

NYSE:LMND opened at $31.16 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of -10.25 and a beta of 2.13. The company has a 50 day simple moving average of $30.61 and a two-hundred day simple moving average of $34.47. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.67) EPS. Research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after buying an additional 15,779 shares during the period. PDT Partners LLC lifted its stake in Lemonade by 61.6% during the 1st quarter. PDT Partners LLC now owns 191,621 shares of the company’s stock valued at $6,023,000 after acquiring an additional 73,030 shares in the last quarter. Nomura Holdings Inc. bought a new position in Lemonade during the 1st quarter valued at $416,000. State of Wyoming bought a new position in Lemonade during the 1st quarter valued at $49,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Lemonade by 803.9% during the 1st quarter. Landscape Capital Management L.L.C. now owns 111,931 shares of the company’s stock valued at $3,518,000 after acquiring an additional 99,548 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.