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

Lemonade, Inc. (NYSE:LMND) was the recipient of some unusual options trading on Monday. Investors acquired 28,610 call options on the stock. This is an increase of 81% compared to the average daily volume of 15,776 call options.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the transaction, the insider now directly owns 69,508 shares in the company, valued at $2,687,874.36. The trade was a 29.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Eisenberg sold 12,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $40.15, for a total value of $481,800.00. Following the completion of the sale, the director now directly owns 94,670 shares in the company, valued at approximately $3,801,000.50. This represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 767,867 shares of company stock valued at $33,787,279 in the last three months. Corporate insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP grew its position in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares during the last quarter. Avior Wealth Management LLC bought a new stake in Lemonade in the fourth quarter valued at approximately $40,000. Russell Investments Group Ltd. boosted its holdings in Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after acquiring an additional 867 shares during the last quarter. BNP Paribas acquired a new stake in Lemonade during the 4th quarter valued at approximately $57,000. Finally, PNC Financial Services Group Inc. raised its holdings in Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after purchasing an additional 860 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LMND shares. Piper Sandler reduced their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. 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. JMP Securities increased their price objective on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upgraded shares of 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 research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lemonade presently has an average rating of “Hold” and an average price target of $31.00.

Lemonade Price Performance

Lemonade stock opened at $37.12 on Wednesday. The business has a 50 day moving average of $34.94 and a 200-day moving average of $29.84. The company has a market capitalization of $2.65 billion, a P/E ratio of -12.21 and a beta of 2.15. Lemonade has a 1 year low of $14.03 and a 1 year high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Equities analysts anticipate that Lemonade will post -3.03 EPS for the current 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.