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

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

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the company’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 in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Maria Angelidis-Smith acquired 15,042 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the completion of the acquisition, the director now directly owns 33,554 shares in the company, valued at approximately $1,114,999.42. The trade was a 81.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 102,892 shares of company stock worth $3,783,045. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 1,879 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares in the last quarter. Quest Partners LLC increased its stake in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after acquiring an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Lemonade in the 2nd quarter valued at about $180,000. Finally, Bristlecone Advisors LLC bought a new position in shares of Lemonade in the third quarter worth approximately $218,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 2.1 %

NYSE LMND opened at $49.29 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The company’s 50 day moving average is $22.98 and its 200-day moving average is $19.51. Lemonade has a 12-month low of $14.03 and a 12-month high of $52.22.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LMND. JMP Securities upped their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday. BMO Capital Markets boosted their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday. Piper Sandler raised their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised shares of 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. Finally, Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.43.

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.