Softbank Group Capital Ltd Sells 7,067 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 7,067 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the sale, the insider now directly owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, December 16th, Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35.

Lemonade Stock Up 9.0 %

Shares of NYSE:LMND traded up $3.44 on Friday, reaching $41.54. The company had a trading volume of 3,295,305 shares, compared to its average volume of 1,827,666. The stock has a market capitalization of $2.97 billion, a P/E ratio of -13.66 and a beta of 2.09. The stock has a 50-day moving average price of $34.10 and a 200 day moving average price of $23.37. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the business earned ($0.88) earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Large investors have recently modified their holdings of the company. FMR LLC raised its holdings in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lemonade by 99.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after purchasing an additional 27,265 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after purchasing an additional 42,822 shares during the period. Verition Fund Management LLC bought a new position in shares of Lemonade in the third quarter worth about $1,571,000. Finally, International Assets Investment Management LLC lifted its position in shares of Lemonade by 1,549.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after purchasing an additional 18,480 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on LMND shares. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler upped their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. JMP Securities increased their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, Jefferies Financial Group dropped their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.43.

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.