Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 719,815 Shares of Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Lemonade Stock Down 8.9 %

Shares of LMND opened at $39.18 on Thursday. The business has a 50-day simple moving average of $33.20 and a two-hundred day simple moving average of $23.09. Lemonade, Inc. has a 12-month low of $14.03 and a 12-month high of $53.85. The stock has a market cap of $2.80 billion, a PE ratio of -12.89 and a beta of 2.09.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. During the same period last year, the company earned ($0.88) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Lemonade, Inc. will post -3.04 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on LMND shares. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets upped their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods cut shares of 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 report on Thursday, November 7th. JMP Securities increased their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.43.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its stake in Lemonade by 4.6% during the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares during the last quarter. Barclays PLC increased its holdings in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in shares of Lemonade during the 3rd quarter worth approximately $614,000. State Street Corp grew its position in shares of Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares in the last quarter. 80.30% of the stock is owned by 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.