Lemonade Target of Unusually Large Options Trading (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 26,534 call options on the stock. This represents an increase of approximately 46% compared to the average daily volume of 18,179 call options.

Insider Buying and Selling at Lemonade

In other Lemonade news, COO Adina Eckstein sold 40,000 shares of Lemonade stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $73.02, for a total transaction of $2,920,800.00. Following the transaction, the chief operating officer directly owned 227,987 shares in the company, valued at approximately $16,647,610.74. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Sheldon Peters sold 18,930 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $72.77, for a total value of $1,377,536.10. Following the completion of the sale, the insider owned 83,467 shares of the company’s stock, valued at $6,073,893.59. This trade represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 74,258 shares of company stock worth $5,445,742 in the last ninety days. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Strategic Advocates LLC bought a new stake in shares of Lemonade in the 3rd quarter valued at $33,000. CIBC Bancorp USA Inc. bought a new position in Lemonade during the third quarter worth $318,000. Advisory Services Network LLC bought a new position in Lemonade during the third quarter worth $216,000. CANADA LIFE ASSURANCE Co lifted its holdings in Lemonade by 11.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 17,769 shares of the company’s stock valued at $966,000 after buying an additional 1,844 shares during the period. Finally, Worth Venture Partners LLC bought a new stake in shares of Lemonade during the 3rd quarter valued at about $297,000. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities set a $80.00 target price on Lemonade in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Lemonade from $49.00 to $53.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. BMO Capital Markets increased their target price on shares of Lemonade from $23.00 to $42.00 and gave the stock an “underperform” rating in a report on Monday, August 18th. Finally, Piper Sandler lowered their target price on shares of Lemonade from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.57.

Lemonade Price Performance

LMND traded up $1.01 during trading on Wednesday, hitting $80.18. 3,024,264 shares of the stock traded hands, compared to its average volume of 2,428,034. The business has a 50 day moving average price of $64.15 and a 200 day moving average price of $52.42. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -33.87 and a beta of 2.12. Lemonade has a twelve month low of $24.31 and a twelve month high of $83.77.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. During the same period last year, the company posted ($0.95) EPS. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, equities research analysts predict that Lemonade will post -3.03 earnings per share for the current 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.