Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 42,160 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20. Following the completion of the sale, the insider now owns 10,452,476 shares in the company, valued at $389,041,156.72. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 value of $7,585,641.00.

Lemonade Price Performance

Shares of NYSE:LMND opened at $32.56 on Friday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The business’s 50-day moving average is $34.54 and its 200-day moving average is $31.75. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -10.71 and a beta of 2.12.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. The firm 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%. Analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

Institutional Investors Weigh In On Lemonade

A number of large investors have recently bought and sold shares of LMND. Quarry LP grew its stake in Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after acquiring an additional 700 shares during the period. Avior Wealth Management LLC acquired a new stake in Lemonade in the 4th quarter valued at $40,000. Russell Investments Group Ltd. increased its stake in Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after purchasing an additional 867 shares in the last quarter. BNP Paribas acquired a new position in Lemonade during the fourth quarter worth $57,000. Finally, PNC Financial Services Group Inc. raised its holdings in Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after buying an additional 860 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target 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. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.00.

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.