Lemonade Sees Unusually Large Options Volume (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) saw some unusual options trading on Friday. Stock investors acquired 13,999 put options on the stock. This is an increase of approximately 20% compared to the average daily volume of 11,674 put options.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods downgraded 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 research note on Thursday, November 7th. BMO Capital Markets increased their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group decreased their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Lemonade has a consensus rating of “Hold” and a consensus price target of $30.43.

Insider Activity

In related news, insider John Sheldon Peters sold 1,790 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total transaction of $81,445.00. Following the transaction, the insider now owns 88,493 shares in the company, valued at $4,026,431.50. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total transaction of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 871,514 shares of company stock valued at $37,993,527. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Advisory LLC raised its position in Lemonade by 1.6% during the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after purchasing an additional 850 shares in the last quarter. Blue Trust Inc. boosted its stake in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares in the last quarter. Van ECK Associates Corp grew its position in Lemonade by 12.1% during the second 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. Tidal Investments LLC raised its stake in shares of Lemonade by 4.6% during the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after acquiring an additional 2,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $482,000 after acquiring an additional 2,582 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Shares of LMND opened at $39.40 on Friday. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85. The stock’s 50-day simple moving average is $36.36 and its 200 day simple moving average is $24.24. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -12.96 and a beta of 2.08.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter in the prior year, the firm posted ($0.88) EPS. Lemonade’s revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Lemonade will post -3.04 earnings per share 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.