Traders Buy High Volume of Call Options on Lemonade (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the target of unusually large options trading on Wednesday. Traders bought 15,999 call options on the company. This represents an increase of 84% compared to the typical daily volume of 8,693 call options.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 20,000 shares of Lemonade stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the sale, the insider now directly owns 59,286 shares of the company’s stock, valued at $1,778,580. This trade represents a 25.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of Lemonade stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.33, for a total value of $1,017,692.82. Following the sale, the director now directly owns 40,916 shares in the company, valued at approximately $1,240,982.28. This trade represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,604 shares of company stock worth $1,655,085. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LMND. State Board of Administration of Florida Retirement System raised its position in Lemonade by 18.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after purchasing an additional 2,710 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after acquiring an additional 2,196 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Lemonade during the 1st quarter valued at $718,000. Concurrent Investment Advisors LLC bought a new stake in shares of Lemonade during the 2nd quarter valued at $180,000. Finally, Van ECK Associates Corp raised its position in shares of Lemonade by 12.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after acquiring an additional 1,915 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMND shares. Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a report on Wednesday. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a report on Tuesday, October 15th. Finally, Piper Sandler lifted their price objective on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.50.

Lemonade Price Performance

Shares of LMND opened at $46.58 on Thursday. The company has a market capitalization of $3.33 billion, a P/E ratio of -15.32 and a beta of 1.68. Lemonade has a one year low of $14.03 and a one year high of $48.15. The business’s 50 day simple moving average is $21.71 and its 200-day simple moving average is $19.07.

Lemonade (NYSE:LMND) last announced its earnings results 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 period in the previous year, the business earned ($0.88) EPS. Lemonade’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Lemonade will post -3.05 EPS for the current fiscal year.

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.