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

Lemonade, Inc. (NYSE:LMND) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 16,559 put options on the stock. This is an increase of approximately 74% compared to the average daily volume of 9,496 put options.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. JMP Securities upped their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, Piper Sandler lifted their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.43.

Insider Activity

In related news, Director Maria Angelidis-Smith purchased 18,512 shares of Lemonade stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the acquisition, the director now owns 18,512 shares of the company’s stock, valued at $507,599.04. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now owns 189,653 shares in the company, valued at $9,482,650. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,892 shares of company stock valued at $3,783,045. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

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

Lemonade Stock Up 0.8 %

Shares of Lemonade stock traded up $0.38 during trading on Friday, hitting $50.74. 2,185,526 shares of the stock traded hands, compared to its average volume of 1,759,367. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -16.57 and a beta of 1.68. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22. The firm’s fifty day moving average is $22.36 and its 200-day moving average is $19.29.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the previous year, the firm earned ($0.88) earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. On average, analysts forecast that Lemonade will post -3.05 earnings per share for the current fiscal year.

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.