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

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 422,177 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $30.17, for a total value of $12,737,080.09. Following the completion of the transaction, the insider now directly owns 10,015,984 shares of the company’s stock, valued at $302,182,237.28. The trade was a 4.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Monday, May 5th, Softbank Group Capital Ltd sold 398,215 shares of Lemonade stock. The shares were sold at an average price of $30.27, for a total value of $12,053,968.05.
• 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 transaction 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 transaction of $1,569,195.20.
• On Monday, March 24th, Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00.

Lemonade Price Performance

NYSE LMND opened at $31.06 on Friday. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The firm has a market capitalization of $2.28 billion, a PE ratio of -10.22 and a beta of 2.13. The company’s 50 day simple moving average is $30.99 and its 200 day simple moving average is $34.03.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share 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%. During the same period last year, the business posted ($0.67) earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. Sell-side analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Institutional investors have recently bought and sold shares of the company. Quarry LP increased its holdings in Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after buying an additional 700 shares during the last quarter. Avior Wealth Management LLC bought a new stake in Lemonade during the fourth quarter valued at about $40,000. Hollencrest Capital Management bought a new stake in Lemonade during the first quarter valued at about $41,000. Russell Investments Group Ltd. grew its position in shares of Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after purchasing an additional 867 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of Lemonade in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMND. Piper Sandler decreased their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods reduced their target price on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered shares of Lemonade from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $35.00 to $24.00 in a research note on Tuesday, April 8th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.17.

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.