Lemonade, Inc. (NYSE:LMND) Shares Sold by Softbank Group CORP.

Softbank Group CORP. reduced its position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,699,211 shares of the company's stock after selling 1,284,173 shares during the period. Lemonade accounts for about 1.7% of Softbank Group CORP.'s investment portfolio, making the stock its 5th largest position. Softbank Group CORP. owned about 14.98% of Lemonade worth $392,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in Lemonade in the fourth quarter valued at $2,712,000. Mandatum Life Insurance Co Ltd acquired a new stake in Lemonade during the 4th quarter worth approximately $378,000. The Manufacturers Life Insurance Company increased its position in Lemonade by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock worth $1,137,000 after purchasing an additional 2,209 shares in the last quarter. Watershed Private Wealth LLC acquired a new position in Lemonade during the fourth quarter valued at approximately $286,000. Finally, Woodward Diversified Capital LLC purchased a new stake in Lemonade during the fourth quarter worth approximately $381,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Shares of Lemonade stock traded down $0.30 on Monday, reaching $32.27. 1,281,830 shares of the company were exchanged, compared to its average volume of 1,921,246. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -10.62 and a beta of 2.13. The company's 50-day moving average is $30.57 and its two-hundred day moving average is $34.76.

Lemonade (NYSE:LMND - Get Free Report) last posted its 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 net margin of 43.51% and a negative return on equity of 32.85%. The firm's revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.67) earnings per share. As a group, sell-side analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Lemonade from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $35.00 to $24.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler cut their target price on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $28.17.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 1,899 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the sale, the insider now directly owns 87,609 shares of the company's stock, valued at $2,960,308.11. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 500,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 7,498,723 shares of the company's stock, valued at approximately $241,833,816.75. The trade was a 6.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,744,890 shares of company stock valued at $87,413,986 over the last 90 days. 14.70% of the stock is currently owned by company insiders.

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.