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

Lemonade, Inc. (NYSE:LMND - Get Free Report) major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total value 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 filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 value of $7,585,641.00.

Lemonade Trading Up 3.6 %

LMND traded up $1.15 during trading on Wednesday, reaching $32.75. 441,375 shares of the company were exchanged, compared to its average volume of 1,892,638. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The firm has a 50 day moving average of $34.50 and a 200 day moving average of $32.14. The stock has a market cap of $2.38 billion, a P/E ratio of -10.77 and a beta of 2.12.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.19. The business had revenue of $148.80 million for the quarter, compared to analysts' expectations of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

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Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.00.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Quarry LP boosted its position in Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company's stock worth $34,000 after acquiring an additional 700 shares during the period. Avior Wealth Management LLC acquired a new stake in Lemonade in the fourth quarter worth about $40,000. Russell Investments Group Ltd. grew its position in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock valued at $42,000 after buying an additional 867 shares in the last quarter. BNP Paribas acquired a new position in Lemonade during the 4th quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after buying an additional 860 shares in the last quarter. 80.30% of the stock is owned by 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.