Softbank Group Capital Ltd Sells 7,067 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 7,067 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total transaction of $304,022.34. Following the completion of the transaction, the insider now directly owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

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

• On Monday, December 16th, Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35.

Lemonade Price Performance

Shares of NYSE LMND opened at $41.54 on Friday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The firm has a market cap of $2.97 billion, a PE ratio of -13.66 and a beta of 2.09. The company has a 50 day simple moving average of $34.10 and a 200 day simple moving average of $23.42.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.88) earnings per share. As a group, research analysts anticipate that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Several institutional investors have recently added to or reduced their stakes in LMND. Axiom Advisory LLC raised its stake in Lemonade by 1.6% during the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after buying an additional 850 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the period. Van ECK Associates Corp boosted its position in shares of Lemonade by 12.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares in the last quarter. Tidal Investments LLC grew 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 purchasing an additional 2,017 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Lemonade by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $482,000 after purchasing an additional 2,582 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LMND shares. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Piper Sandler increased their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a 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 report on Thursday, November 7th. Finally, BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.43.

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.