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 company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the sale, the insider now owns 10,494,636 shares of the company’s stock, valued at approximately $389,141,102.88. This represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Trading Down 1.4 %

LMND opened at $33.80 on Friday. The stock has a market capitalization of $2.46 billion, a P/E ratio of -11.12 and a beta of 2.12. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The firm’s fifty day simple moving average is $34.54 and its 200 day simple moving average is $31.65.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. On average, equities research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned 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.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently made changes to their positions in LMND. Jones Financial Companies Lllp lifted its position in shares of Lemonade by 6.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock worth $215,000 after purchasing an additional 375 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Lemonade by 8.4% in the 4th 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 position in Lemonade by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after buying an additional 442 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Lemonade by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after buying an additional 500 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of 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. 80.30% of the stock is owned by institutional investors.

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.