Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells $31,880,606.35 in Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the sale, the insider now owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 Wednesday, December 18th, Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock. The shares were sold at an average price of $43.02, for a total value of $304,022.34.

Lemonade Price Performance

LMND opened at $41.54 on Friday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.66 and a beta of 2.09. The business’s 50-day moving average price is $34.10 and its two-hundred day moving average price is $23.37. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the company posted ($0.88) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Sell-side analysts anticipate that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LMND has been the topic of a number of research reports. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Piper Sandler lifted their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.43.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after acquiring an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its stake in Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after acquiring an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Lemonade in the 2nd quarter valued at about $180,000. Finally, Bristlecone Advisors LLC acquired a new position in shares of Lemonade during the 3rd quarter worth about $218,000. 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.