Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 422,177 Shares

Lemonade, Inc. (NYSE:LMND - Get Free Report) major shareholder Softbank Group Capital Ltd sold 422,177 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $30.17, for a total transaction of $12,737,080.09. Following the completion of the transaction, the insider now owns 10,015,984 shares of the company's stock, valued at approximately $302,182,237.28. The trade was a 4.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Softbank Group Capital Ltd also recently made the following trade(s):

• On Wednesday, May 7th, Softbank Group Capital Ltd sold 316,122 shares of Lemonade stock. The shares were sold at an average price of $31.14, for a total transaction of $9,844,039.08.
• On Monday, May 5th, Softbank Group Capital Ltd sold 398,215 shares of Lemonade stock. The stock was sold at an average price of $30.27, for a total transaction of $12,053,968.05.
• On Monday, April 28th, Softbank Group Capital Ltd sold 500 shares of Lemonade stock. The shares were sold at an average price of $30.00, for a total transaction of $15,000.00.
• On Wednesday, March 26th, Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20.
• On Monday, March 24th, Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock. The stock was sold at an average price of $37.08, for a total value of $7,585,641.00.

Lemonade Stock Down 0.5 %

Shares of NYSE LMND traded down $0.15 during trading on Friday, hitting $31.07. 1,966,487 shares of the company traded hands, compared to its average volume of 1,934,822. The firm has a market capitalization of $2.28 billion, a P/E ratio of -10.22 and a beta of 2.13. The company has a 50-day moving average price of $30.87 and a 200-day moving average price of $34.11. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. During the same period in the previous year, the company earned ($0.67) earnings per share. The business's revenue for the quarter was up 27.0% compared to the same quarter last year. Research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LMND has been the subject of several recent analyst reports. Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $35.00 to $24.00 in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods cut their price target on Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.17.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company's stock valued at $1,443,000 after purchasing an additional 65,144 shares during the period. Tidal Investments LLC raised its holdings in shares of Lemonade by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company's stock valued at $752,000 after buying an additional 2,017 shares during the period. Johnson & White Wealth Management LLC acquired a new position in Lemonade during the 4th quarter worth approximately $234,000. Mandatum Life Insurance Co Ltd purchased a new position in Lemonade in the 4th quarter worth approximately $378,000. Finally, Nisa Investment Advisors LLC grew its position in Lemonade by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company's stock valued at $390,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company's stock.

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.