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

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $37.08, for a total value of $7,585,641.00. Following the sale, the insider now owns 10,494,636 shares in the company, valued at $389,141,102.88. The trade was a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lemonade Stock Down 1.4 %

LMND stock opened at $33.80 on Friday. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The company has a market cap of $2.46 billion, a P/E ratio of -11.12 and a beta of 2.12. The business has a fifty day moving average of $34.54 and a 200-day moving average of $31.65.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million during 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%. As a group, equities research analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Lemonade

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after acquiring an additional 1,299,891 shares during the last quarter. Two Sigma Investments LP bought a new stake in Lemonade in the fourth quarter valued at about $22,066,000. Voloridge Investment Management LLC acquired a new position in Lemonade in the fourth quarter valued at about $21,310,000. Two Sigma Advisers LP bought a new position in Lemonade during the fourth quarter worth about $15,412,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lemonade by 402.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock worth $10,093,000 after buying an additional 220,399 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Company Profile

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.