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

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock in a transaction on 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 sale, the insider now directly owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lemonade Trading Down 2.8 %

LMND stock opened at $38.10 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 $33.62 and its 200-day moving average is $23.19. The firm has a market cap of $2.72 billion, a P/E ratio of -12.53 and a beta of 2.09.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.88) earnings per share. Sell-side analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JMP Securities boosted their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group reduced their target price 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 target price on 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 lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Lemonade has an average rating of “Hold” and a consensus price target of $30.43.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Quest Partners LLC increased its holdings in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Lemonade in the second quarter worth $180,000. Finally, Bristlecone Advisors LLC acquired a new position in Lemonade in the third quarter worth $218,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.