Softbank Group Capital Ltd Sells 42,160 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the sale, the insider now owns 10,452,476 shares of the company’s stock, valued at $389,041,156.72. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 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 Trading Down 3.6 %

Shares of Lemonade stock opened at $32.56 on Friday. The company’s fifty day simple moving average is $34.54 and its two-hundred day simple moving average is $31.85. Lemonade, Inc. has a 12-month low of $14.03 and a 12-month high of $53.85. The company has a market cap of $2.37 billion, a P/E ratio of -10.71 and a beta of 2.12.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. Analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LMND. JPMorgan Chase & Co. increased its stake in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after purchasing an additional 1,299,891 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Lemonade in the fourth quarter worth $22,066,000. Voloridge Investment Management LLC purchased a new position in Lemonade in the 4th quarter worth about $21,310,000. Two Sigma Advisers LP purchased a new stake in Lemonade during the 4th quarter valued at $15,412,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after acquiring an additional 220,399 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

About Lemonade

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.