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

Lemonade, Inc. (NYSE:LMND) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 15,999 call options on the company. This is an increase of 84% compared to the average daily volume of 8,693 call options.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and increased their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Jefferies Financial Group cut their price target 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. Finally, BMO Capital Markets upped their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.57.

Insider Activity

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maya Prosor sold 20,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. This represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,892 shares of company stock valued at $3,783,045. 12.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lemonade

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the period. Marshall Wace LLP purchased a new stake in Lemonade in the 2nd quarter worth approximately $14,181,000. Landscape Capital Management L.L.C. grew its stake in shares of Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after purchasing an additional 48,260 shares during the period. FMR LLC increased its holdings in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Finally, General Equity Holdings LP acquired a new position in shares of Lemonade in the 2nd quarter valued at $5,198,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Trading Up 8.1 %

NYSE:LMND opened at $50.36 on Friday. The company has a market capitalization of $3.60 billion, a P/E ratio of -16.57 and a beta of 1.68. Lemonade has a 12 month low of $14.03 and a 12 month high of $52.22. The firm has a fifty day simple moving average of $22.36 and a 200-day simple moving average of $19.29.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.88) EPS. Equities analysts forecast that Lemonade will post -3.05 EPS 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.