Insider Selling: Lemonade, Inc. (NYSE:LMND) Major Shareholder Sells 204,575 Shares of Stock

Lemonade, Inc. (NYSE:LMND) major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction 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 transaction, the insider now owns 10,494,636 shares of the company’s stock, valued at approximately $389,141,102.88. This represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Lemonade Stock Performance

Shares of NYSE LMND traded down $2.30 during midday trading on Wednesday, reaching $34.32. 1,862,838 shares of the company traded hands, compared to its average volume of 1,870,266. The stock’s 50-day simple moving average is $34.53 and its 200-day simple moving average is $31.64. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The firm has a market cap of $2.50 billion, a PE ratio of -11.29 and a beta of 2.12.

Lemonade (NYSE:LMND) last announced 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. The firm had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, equities research analysts expect that Lemonade, Inc. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average price target of $31.00.

Institutional Investors Weigh In On Lemonade

A number of large investors have recently bought and sold shares of the business. Quarry LP grew its holdings 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 last quarter. Avior Wealth Management LLC bought a new stake in shares of Lemonade during the fourth quarter valued at approximately $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 valued at $42,000 after purchasing an additional 867 shares in the last quarter. BNP Paribas bought a new position in Lemonade in the 4th quarter worth approximately $57,000. Finally, PNC Financial Services Group Inc. lifted its holdings in 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 currently 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.