Lyft (NASDAQ:LYFT) Stock Price Down 4.2% - Time to Sell?

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s stock price dropped 4.2% during trading on Wednesday . The stock traded as low as $15.77 and last traded at $15.76. Approximately 10,145,891 shares changed hands during trading, a decline of 38% from the average daily volume of 16,255,818 shares. The stock had previously closed at $16.45.

Analyst Ratings Changes

LYFT has been the topic of several analyst reports. Loop Capital cut their price target on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. DA Davidson reiterated a "neutral" rating and set a $15.00 price target on shares of Lyft in a report on Wednesday, April 16th. Bank of America downgraded shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price on the stock. in a research note on Thursday, April 3rd. Susquehanna upped their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Finally, Morgan Stanley dropped their target price on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.78.

Lyft Trading Down 2.7%

The stock's fifty day simple moving average is $15.53 and its 200-day simple moving average is $13.62. The firm has a market cap of $6.23 billion, a PE ratio of 99.40, a PEG ratio of 2.93 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The company's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, sell-side analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, CEO John David Risher acquired 6,538 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the purchase, the chief executive officer directly owned 11,791,340 shares of the company's stock, valued at $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the sale, the director owned 879,498 shares in the company, valued at $13,896,068.40. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock worth $347,159 over the last ninety days. 3.07% of the stock is owned by insiders.

Institutional Trading of Lyft

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spurstone Advisory Services LLC acquired a new stake in Lyft during the fourth quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its position in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 1,203 shares during the period. Atwood & Palmer Inc. acquired a new stake in Lyft during the second quarter valued at $32,000. GAMMA Investing LLC grew its position in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Lyft during the first quarter valued at $35,000. Institutional investors and hedge funds own 83.07% of the company's stock.

About Lyft

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.