Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 398,215 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 398,215 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $30.27, for a total transaction of $12,053,968.05. Following the completion of the sale, the insider now owns 9,617,769 shares in the company, valued at $291,129,867.63. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% 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 Friday, May 2nd, Softbank Group Capital Ltd sold 422,177 shares of Lemonade stock. The shares were sold at an average price of $30.17, for a total transaction of $12,737,080.09.
• On Monday, April 28th, Softbank Group Capital Ltd sold 500 shares of Lemonade stock. The shares were sold at an average price of $30.00, for a total transaction of $15,000.00.
• On Wednesday, March 26th, Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock. The stock was sold at an average price of $37.22, for a total value of $1,569,195.20.
• On Monday, March 24th, Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00.

Lemonade Stock Performance

NYSE LMND opened at $30.56 on Thursday. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The stock’s 50 day moving average price is $31.08 and its two-hundred day moving average price is $33.94. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -10.05 and a beta of 2.13.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. During the same quarter last year, the company earned ($0.67) earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, equities research analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley downgraded shares of Lemonade from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $28.17.

Hedge Funds Weigh In On Lemonade

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after acquiring an additional 1,299,891 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Lemonade during the 4th quarter worth approximately $22,066,000. Voloridge Investment Management LLC acquired a new stake in shares of Lemonade in the 4th quarter valued at approximately $21,310,000. Two Sigma Advisers LP bought a new position in shares of Lemonade in the fourth quarter valued at $15,412,000. Finally, Analyst IMS Investment Management Services Ltd. acquired a new position in Lemonade during the first quarter worth $9,944,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.