Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells $7,585,641.00 in Stock

Lemonade, Inc. (NYSE:LMND - Get Free Report) major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the sale, the insider now owns 10,494,636 shares in the company, valued at $389,141,102.88. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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, March 26th, Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20.

Lemonade Trading Down 3.6 %

Shares of NYSE LMND traded down $1.23 during midday trading on Friday, reaching $32.56. The company's stock had a trading volume of 1,207,216 shares, compared to its average volume of 1,897,885. The stock has a 50 day simple moving average of $34.54 and a 200-day simple moving average of $31.85. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -10.71 and a beta of 2.12. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last issued 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 firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. As a group, equities analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

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Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.00.

Institutional Inflows and Outflows

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

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.