Insider Selling: Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells 719,815 Shares of Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the sale, the insider now directly owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lemonade Price Performance

NYSE LMND opened at $39.18 on Thursday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The stock has a market capitalization of $2.80 billion, a PE ratio of -12.89 and a beta of 2.09. The company’s 50 day simple moving average is $33.20 and its two-hundred day simple moving average is $23.09.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the prior year, the business earned ($0.88) earnings per share. Lemonade’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, research analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on LMND. BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. JMP Securities upped their price objective on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Piper Sandler upped their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.43.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Lemonade in the 2nd quarter valued at $14,181,000. Landscape Capital Management L.L.C. grew its holdings in shares of Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after purchasing an additional 48,260 shares during the last quarter. FMR LLC raised its position in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the period. Finally, General Equity Holdings LP bought a new position in shares of Lemonade during the second quarter valued at about $5,198,000. Institutional investors own 80.30% of the company’s stock.

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.