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

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock in a transaction on 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 owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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, 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 Stock Performance

Lemonade stock opened at $41.54 on Monday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.66 and a beta of 2.09. The stock’s fifty day moving average is $34.10 and its two-hundred day moving average is $23.42.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS 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 net margin of 43.51% and a negative return on equity of 32.85%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.88) EPS. As a group, sell-side analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on LMND. BMO Capital Markets increased their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Jefferies Financial Group dropped their price objective 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 raised Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, JMP Securities upped their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.43.

Hedge Funds Weigh In On Lemonade

Institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new stake in Lemonade during the 2nd quarter worth about $180,000. Van ECK Associates Corp boosted its position in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after acquiring an additional 1,915 shares during the last quarter. American Century Companies Inc. raised its holdings in Lemonade by 12.7% in the 2nd quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock valued at $1,431,000 after acquiring an additional 9,793 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Lemonade by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock worth $1,067,000 after purchasing an additional 5,778 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Lemonade in the second quarter valued at $269,000. 80.30% of the stock is 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.