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 firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction 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 represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Lemonade Stock Performance

LMND opened at $38.10 on Friday. The firm’s fifty day moving average is $33.62 and its two-hundred day moving average is $23.19. The firm has a market cap of $2.72 billion, a PE ratio of -12.53 and a beta of 2.09. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85.

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

Institutional Trading of Lemonade

Large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its position in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after acquiring an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Lemonade in the 2nd quarter worth $180,000. Finally, Bristlecone Advisors LLC bought a new position in Lemonade during the 3rd quarter worth about $218,000. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on LMND shares. Jefferies Financial Group decreased their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets upped their target price on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Piper Sandler lifted their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $30.43.

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.