Lyft Sees Unusually Large Options Volume (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFTGet Free Report) was the target of some unusual options trading on Monday. Traders bought 90,401 call options on the stock. This is an increase of 39% compared to the average daily volume of 64,996 call options.

Insider Activity

In other Lyft news, Director Logan Green sold 11,867 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total transaction of $186,193.23. Following the sale, the director now directly owns 346,341 shares in the company, valued at approximately $5,434,090.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the completion of the transaction, the director now owns 346,341 shares of the company’s stock, valued at approximately $5,434,090.29. The disclosure for this sale can be found here. Insiders sold 270,526 shares of company stock valued at $5,195,771 in the last three months. 3.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. Norges Bank bought a new position in shares of Lyft during the fourth quarter worth about $73,660,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Lyft in the second quarter valued at approximately $34,942,000. Two Sigma Advisers LP raised its holdings in shares of Lyft by 2,804.1% during the first quarter. Two Sigma Advisers LP now owns 3,235,135 shares of the ride-sharing company’s stock valued at $29,990,000 after buying an additional 3,123,735 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Lyft in the first quarter worth about $24,854,000. Finally, Clearbridge Investments LLC grew its position in Lyft by 46.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock valued at $248,485,000 after buying an additional 2,050,430 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Down 0.6 %

LYFT opened at $19.24 on Tuesday. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $7.69 billion, a PE ratio of -21.62 and a beta of 1.95. The firm’s fifty day moving average price is $16.05 and its 200 day moving average price is $13.28.

Lyft (NASDAQ:LYFTGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts expect that Lyft will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYFT. Wells Fargo & Company boosted their target price on shares of Lyft from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 14th. Nomura downgraded shares of Lyft from a “neutral” rating to a “reduce” rating and upped their price objective for the company from $11.70 to $13.00 in a research note on Friday, December 29th. Barclays lifted their target price on shares of Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. BMO Capital Markets initiated coverage on Lyft in a research note on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price target on the stock. Finally, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Lyft in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.40.

Read Our Latest Stock Report on Lyft

Lyft Company Profile

(Get Free Report)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

Further Reading

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