Softbank Group Capital Ltd Sells 204,575 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the transaction, the insider now directly owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. This represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lemonade Stock Performance

Shares of NYSE:LMND traded down $2.30 during midday trading on Wednesday, hitting $34.32. The company’s stock had a trading volume of 1,862,838 shares, compared to its average volume of 1,870,266. The stock’s 50 day simple moving average is $34.53 and its 200 day simple moving average is $31.64. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -11.29 and a beta of 2.12. 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 Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. As a group, analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in Lemonade by 6.8% in the 4th quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock valued at $215,000 after purchasing an additional 375 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Lemonade by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock valued at $200,000 after buying an additional 423 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lemonade by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $5,545,000 after buying an additional 442 shares during the period. Nisa Investment Advisors LLC increased its stake in Lemonade by 4.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after acquiring an additional 500 shares during the period. Finally, Quarry LP raised its holdings in Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.00.

About Lemonade

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.