Lemonade, Inc. (NYSE:LMND) Major Shareholder Softbank Group Capital Ltd Sells 719,815 Shares

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 Stock Performance

Shares of LMND stock opened at $41.54 on Friday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The stock’s fifty day moving average price is $34.10 and its two-hundred day moving average price is $23.37. The company has a market cap of $2.97 billion, a PE ratio of -13.66 and a beta of 2.09.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.88) earnings per share. On average, equities analysts predict that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently modified their holdings of LMND. Concurrent Investment Advisors LLC acquired a new position in Lemonade in the 2nd quarter worth about $180,000. Van ECK Associates Corp grew its holdings in shares of Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after purchasing an additional 1,915 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Lemonade by 12.7% in the second quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock valued at $1,431,000 after buying an additional 9,793 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lemonade by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock valued at $1,067,000 after buying an additional 5,778 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Lemonade during the 2nd quarter worth approximately $269,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LMND. BMO Capital Markets lifted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. JMP Securities boosted their target price on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley upgraded shares of 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. Finally, Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.43.

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.