Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 42,160 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 42,160 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the completion of the sale, the insider now directly owns 10,452,476 shares in the company, valued at $389,041,156.72. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% 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, March 24th, Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00.

Lemonade Price Performance

Shares of LMND stock opened at $32.56 on Monday. The company has a market capitalization of $2.37 billion, a P/E ratio of -10.71 and a beta of 2.12. The company’s 50-day simple moving average is $34.54 and its two-hundred day simple moving average is $31.95. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85.

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

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.00.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently made changes to their positions in LMND. Vanguard Group Inc. grew its holdings in Lemonade by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after acquiring an additional 134,776 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after purchasing an additional 1,299,891 shares in the last quarter. State Street Corp increased its holdings in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after buying an additional 14,028 shares during the period. Two Sigma Investments LP bought a new position in Lemonade in the fourth quarter worth approximately $22,066,000. Finally, Voloridge Investment Management LLC purchased a new stake in Lemonade during the fourth quarter worth $21,310,000. 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.