Insider Selling: Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells 500,000 Shares of Stock

Lemonade, Inc. (NYSE:LMND - Get Free Report) major shareholder Softbank Group Capital Ltd sold 500,000 shares of Lemonade stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.25, for a total value of $16,125,000.00. Following the transaction, the insider now owns 7,498,723 shares in the company, valued at $241,833,816.75. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, May 13th, Softbank Group Capital Ltd sold 387,282 shares of Lemonade stock. The stock was sold at an average price of $32.84, for a total value of $12,718,340.88.
• On Friday, May 9th, Softbank Group Capital Ltd sold 471,960 shares of Lemonade stock. The stock was sold at an average price of $31.15, for a total value of $14,701,554.00.
• On Wednesday, May 7th, Softbank Group Capital Ltd sold 316,122 shares of Lemonade stock. The stock was sold at an average price of $31.14, for a total value 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 value of $12,053,968.05.
• On Friday, May 2nd, Softbank Group Capital Ltd sold 422,177 shares of Lemonade stock. The stock was sold at an average price of $30.17, for a total value of $12,737,080.09.
• On Monday, April 28th, Softbank Group Capital Ltd sold 500 shares of Lemonade stock. The stock was sold at an average price of $30.00, for a total value of $15,000.00.
• On Wednesday, March 26th, Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock. The stock was 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 Trading Up 4.0%

Shares of LMND stock traded up $1.26 during trading hours on Friday, reaching $32.55. 1,431,231 shares of the company's stock were exchanged, compared to its average volume of 1,923,799. The stock's 50 day moving average is $30.57 and its 200-day moving average is $34.68. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -10.71 and a beta of 2.13. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (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%. The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the company earned ($0.67) EPS. Equities analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Lemonade by 6.8% in the 4th quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock valued at $215,000 after acquiring an additional 375 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Lemonade by 3.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock valued at $346,000 after acquiring an additional 380 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Lemonade by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock valued at $200,000 after acquiring an additional 423 shares during the period. Bank of New York Mellon Corp increased its position in shares of Lemonade by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock valued at $5,545,000 after acquiring an additional 442 shares during the period. Finally, US Bancorp DE boosted its holdings in Lemonade by 28.3% in the first quarter. US Bancorp DE now owns 2,406 shares of the company's stock valued at $76,000 after purchasing an additional 531 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.