Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 204,575 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction that occurred 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 transaction, the insider now directly owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lemonade Stock Down 6.3 %

NYSE:LMND opened at $34.32 on Thursday. The firm has a 50 day moving average of $34.53 and a 200 day moving average of $31.64. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -11.29 and a beta of 2.12.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. As a group, analysts expect 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 modified their holdings of the business. Quarry LP raised its position 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 purchasing an additional 700 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Lemonade during the 4th quarter valued at approximately $40,000. Russell Investments Group Ltd. raised its holdings in shares of Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after buying an additional 867 shares during the last quarter. BNP Paribas acquired a new stake in shares of Lemonade during the fourth quarter worth $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and a consensus target price of $31.00.

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.