Softbank Group Capital Ltd Sells 471,960 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 471,960 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $31.15, for a total value of $14,701,554.00. Following the completion of the sale, the insider now directly owns 7,998,723 shares of the company’s stock, valued at approximately $249,160,221.45. This represents a 5.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 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 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 transaction of $12,737,080.09.
• 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 Up 2.0%

Lemonade stock opened at $32.60 on Wednesday. The business’s 50-day moving average price is $30.73 and its 200 day moving average price is $34.41. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -10.72 and a beta of 2.13. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.67) earnings per share. Equities analysts expect that Lemonade, Inc. will post -3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Lemonade

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Lemonade by 14.9% in the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock valued at $192,931,000 after buying an additional 794,952 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after acquiring an additional 1,299,891 shares during the period. Two Sigma Investments LP purchased a new position in shares of Lemonade in the 4th quarter valued at about $22,066,000. Voloridge Investment Management LLC acquired a new position in Lemonade in the 4th quarter worth about $21,310,000. Finally, Northern Trust Corp raised its holdings in Lemonade by 23.7% in the 4th quarter. Northern Trust Corp now owns 562,502 shares of the company’s stock worth $20,633,000 after purchasing an additional 107,592 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.