Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 719,815 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the sale, the insider now directly owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lemonade Trading Down 8.9 %

NYSE LMND traded down $3.82 during trading hours on Wednesday, reaching $39.18. The company had a trading volume of 2,640,793 shares, compared to its average volume of 1,820,986. The stock has a market capitalization of $2.80 billion, a P/E ratio of -12.89 and a beta of 2.09. The stock has a 50-day moving average of $33.20 and a 200 day moving average of $23.09. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million during 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 quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.88) EPS. As a group, sell-side analysts predict that Lemonade, Inc. will post -3.04 EPS for the current year.

Institutional Trading of Lemonade

Hedge funds have recently made changes to their positions in the business. Axiom Advisory LLC increased its stake in shares of 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 period. Blue Trust Inc. raised its holdings 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 in the last quarter. Van ECK Associates Corp lifted 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 worth $293,000 after purchasing an additional 1,915 shares during the last quarter. Tidal Investments LLC grew its stake in shares of 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 in the last quarter. 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 valued at $482,000 after buying an additional 2,582 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LMND shares. Jefferies Financial Group dropped their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, JMP Securities boosted their target price on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lemonade currently has a consensus rating of “Hold” and a consensus target price 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.