Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 500,000 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 500,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.25, for a total transaction of $16,125,000.00. Following the completion of the sale, the insider now owns 7,498,723 shares in the company, valued at $241,833,816.75. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 transaction 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 transaction of $14,701,554.00.
• 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 shares were 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 shares were 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 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 stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00.

Lemonade Stock Down 0.9%

Shares of LMND stock opened at $31.16 on Friday. The company’s fifty day simple moving average is $30.61 and its 200-day simple moving average is $34.47. The firm has a market cap of $2.28 billion, a PE ratio of -10.25 and a beta of 2.13. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) 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%. During the same quarter in the prior year, the business posted ($0.67) earnings per share. Lemonade’s revenue was up 27.0% compared to the same quarter last year. On average, equities analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Lemonade during the fourth quarter worth $2,712,000. Mandatum Life Insurance Co Ltd acquired a new position in shares of Lemonade in the fourth quarter valued at $378,000. The Manufacturers Life Insurance Company increased its holdings in shares of Lemonade by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company’s stock valued at $1,137,000 after purchasing an additional 2,209 shares during the last quarter. Watershed Private Wealth LLC acquired a new position in shares of Lemonade in the fourth quarter valued at $286,000. Finally, Woodward Diversified Capital LLC acquired a new position in shares of Lemonade in the fourth quarter valued at $381,000. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMND shares. Keefe, Bruyette & Woods lowered their price target on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler decreased their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, 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 report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lemonade currently has a consensus 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.