The shares were sold at a weighted average price of $43.0242, totaling approximately $304,052. Following this transaction, SoftBank (TYO:9984) Group Capital Ltd retains ownership of 10,699,211 shares in Lemonade. The sale was executed in multiple transactions, with prices ranging from $43.00 to $43.085 per share. SoftBank has committed to providing detailed information on the specific prices of each transaction upon request. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 8 additional exclusive ProTips available for subscribers, including insights on profitability outlook and financial health metrics. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 8 additional exclusive ProTips available for subscribers, including insights on profitability outlook and financial health metrics. The shares were sold at a weighted average price of $43.0242, totaling approximately $304,052.
Following this transaction, SoftBank Group Capital Ltd retains ownership of 10,699,211 shares in Lemonade. The sale was executed in multiple transactions, with prices ranging from $43.00 to $43.085 per share. SoftBank has committed to providing detailed information on the specific prices of each transaction upon request.
In other recent news, Lemonade Inc (NYSE:LMND). has seen a series of adjustments in analysts' outlooks. Jefferies raised its price target to $20, maintaining an underperform rating, while JMP Securities increased their target from $40 to $60, keeping a market outperform rating. Piper Sandler and Morgan Stanley (NYSE:MS) also augmented their price targets, retaining a neutral rating, and BMO Capital elevated its target but sustained an underperform rating.
Lemonade's recent investor day highlighted the company's growth and its venture into the auto insurance market, leading to revised revenue projections. The company demonstrated a robust 22% revenue growth over the last twelve months, reaching $492.5 million. However, Jefferies lowered its expectations for adjusted EBITDA and loss per share figures for Lemonade.
The company's third-quarter financials showed significant growth, with in-force premiums rising by 24% to $889 million, customer count increasing by 17% to 2.3 million, and gross profit surging 71% year-over-year to $37 million. Analysts project further improvements for Lemonade, with Q4 2024 in-force premium projections being between $940 million to $944 million, and revenue projections being $144 million to $146 million. The company aims to achieve consistent positive cash flow from operations by the end of 2024. These are recent developments in the company's financial health and strategic direction.
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