Stock Traders Buy Large Volume of Put Options on Lemonade (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND - Get Free Report) was the target of unusually large options trading activity on Friday. Traders acquired 16,559 put options on the company. This represents an increase of 74% compared to the typical volume of 9,496 put options.

Lemonade Stock Down 2.1 %

LMND stock traded down $1.08 during trading on Friday, hitting $49.28. The company had a trading volume of 4,444,059 shares, compared to its average volume of 3,681,912. The firm has a market capitalization of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. Lemonade has a 52-week low of $14.03 and a 52-week high of $52.22. The company has a 50 day simple moving average of $22.98 and a 200-day simple moving average of $19.52.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm's revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) EPS. Sell-side analysts forecast that Lemonade will post -3.05 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Maria Angelidis-Smith sold 33,554 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the transaction, the director now owns 40,916 shares in the company, valued at approximately $1,240,982.28. This represents a 45.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the company's stock in a transaction on Thursday, November 21st. The stock was 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 of the company's stock, valued at approximately $9,482,650. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,892 shares of company stock worth $3,783,045 over the last three months. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMND. State Board of Administration of Florida Retirement System grew its holdings in Lemonade by 18.7% during the 1st 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 grew its holdings in Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company's stock worth $404,000 after acquiring an additional 2,196 shares in the last quarter. Tidal Investments LLC bought a new position in Lemonade during the 1st quarter worth about $718,000. Concurrent Investment Advisors LLC bought a new position in Lemonade during the 2nd quarter worth about $180,000. Finally, Van ECK Associates Corp grew its holdings in Lemonade by 12.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company's stock worth $293,000 after acquiring an additional 1,915 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company's stock.

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.