Stock Traders Purchase Large Volume of Put Options on Lemonade (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) saw some unusual options trading on Friday. Investors bought 16,559 put options on the company. This is an increase of 74% compared to the typical volume of 9,496 put options.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities boosted 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. Finally, Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $42.00 in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.43.

Lemonade Stock Down 2.1 %

Shares of NYSE LMND opened at $49.29 on Friday. The company has a market capitalization of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. Lemonade has a twelve month low of $14.03 and a twelve month high of $52.22. The firm has a fifty day simple moving average of $22.98 and a 200 day simple moving average of $19.51.

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 return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same period last year, the company posted ($0.88) EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts expect that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at approximately $7,586,120. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the transaction, the director now directly owns 40,916 shares of the company’s stock, valued at approximately $1,240,982.28. This trade represents a 45.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,892 shares of company stock valued at $3,783,045 in the last ninety days. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Quest Partners LLC grew its stake in shares of 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 buying an additional 8,584 shares during the period. Concurrent Investment Advisors LLC bought a new stake in Lemonade in the 2nd quarter valued at about $180,000. Finally, Bristlecone Advisors LLC bought a new stake in Lemonade in the 3rd quarter valued at about $218,000. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

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.