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 firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 10,452,476 shares of the company’s stock, valued at $389,041,156.72. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 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 Price Performance

Shares of LMND opened at $32.56 on Friday. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85. The company has a market capitalization of $2.37 billion, a P/E ratio of -10.71 and a beta of 2.12. The firm’s 50 day simple moving average is $34.54 and its 200 day simple moving average is $31.85.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $144.78 million. On average, equities analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new position in Lemonade during the fourth quarter valued at approximately $4,457,000. Voloridge Investment Management LLC purchased a new stake in shares of Lemonade in the 4th quarter valued at $21,310,000. Two Sigma Advisers LP bought a new position in shares of Lemonade during the 4th quarter valued at $15,412,000. Two Sigma Investments LP purchased a new position in Lemonade in the 4th quarter worth $22,066,000. Finally, ProShare Advisors LLC bought a new stake in Lemonade in the fourth quarter worth $539,000. 80.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

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.