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

Lemonade, Inc. (NYSE:LMND) was the target of unusually large options trading activity on Tuesday. Traders acquired 22,566 call options on the company. This is an increase of 27% compared to the typical daily volume of 17,833 call options.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the transaction, the insider owned 76,729 shares in the company, valued at $4,028,272.50. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel A. Schreiber sold 9,108 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $99.04, for a total value of $902,056.32. Following the completion of the transaction, the chief executive officer directly owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. The trade was a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 160,300 shares of company stock valued at $14,796,026. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Several large investors have recently modified their holdings of LMND. Caitong International Asset Management Co. Ltd grew its stake in Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Lemonade during the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Lemonade during the 4th quarter worth $33,000. Torren Management LLC bought a new stake in Lemonade during the fourth quarter valued at about $35,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Lemonade in the fourth quarter valued at about $38,000. 80.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LMND has been the subject of several recent research reports. Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Morgan Stanley raised shares of Lemonade from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $85.00 in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, February 24th. Truist Financial initiated coverage on shares of Lemonade in a research report on Tuesday, January 6th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus price target of $68.75.

Lemonade Stock Performance

Shares of NYSE LMND opened at $66.90 on Wednesday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -29.60 and a beta of 2.12. The business’s 50-day simple moving average is $69.77 and its 200-day simple moving average is $66.43. Lemonade has a 52 week low of $24.31 and a 52 week high of $99.90.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.The company’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same period last year, the company posted ($0.42) earnings per share. As a group, equities research analysts forecast that Lemonade will post -3.03 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.