Insider Selling: Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells 42,160 Shares of Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s 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 sale, the insider now owns 10,452,476 shares of the company’s stock, valued at approximately $389,041,156.72. The trade was a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 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 value of $7,585,641.00.

Lemonade Price Performance

Shares of NYSE LMND traded down $1.23 during mid-day 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. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The stock has a fifty day moving average of $34.54 and a two-hundred day moving average of $31.75. The firm has a market capitalization of $2.37 billion, a PE ratio of -10.71 and a beta of 2.12.

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

Hedge Funds Weigh In On Lemonade

Institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its stake in Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Lemonade during the fourth quarter valued at about $40,000. Russell Investments Group Ltd. increased its holdings in shares of Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the last quarter. BNP Paribas purchased a new stake in shares of Lemonade in the fourth quarter worth about $57,000. Finally, PNC Financial Services Group Inc. boosted its stake in Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price target 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.