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 sale, the insider now owns 10,494,636 shares of the company’s stock, 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 SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Lemonade Price Performance

NYSE:LMND opened at $34.32 on Thursday. The company has a 50 day moving average price of $34.53 and a 200-day moving average price of $31.64. 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 $2.50 billion, a price-to-earnings ratio of -11.29 and a beta of 2.12.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, sell-side analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently modified their holdings of LMND. FMR LLC boosted its position in Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Lemonade by 99.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after buying an additional 27,265 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Lemonade in the 3rd quarter valued at $1,571,000. Strategic Financial Concepts LLC purchased a new stake in Lemonade in the 4th quarter worth $2,712,000. Finally, Barclays PLC raised its position in Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after acquiring an additional 65,144 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.