Lyft Sees Unusually Large Options Volume (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) saw unusually large options trading activity on Monday. Investors purchased 59,729 call options on the stock. This represents an increase of 47% compared to the average daily volume of 40,537 call options.

Lyft Price Performance

Shares of NASDAQ LYFT traded up $0.41 during trading on Monday, hitting $15.17. The company had a trading volume of 4,841,317 shares, compared to its average volume of 16,204,754. The stock has a fifty day simple moving average of $15.65 and a two-hundred day simple moving average of $13.68. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 101.23, a price-to-earnings-growth ratio of 2.90 and a beta of 2.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 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 analyst estimates of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The company's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. On average, research analysts expect that Lyft will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LYFT shares. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Lyft in a research report on Thursday, June 5th. Tigress Financial restated a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Citigroup reissued a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded Lyft from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.82.

Insider Activity at Lyft

In related news, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the transaction, the director directly owned 20,467 shares in the company, valued at approximately $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the transaction, the insider owned 959,697 shares in the company, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,732 shares of company stock valued at $347,159 over the last ninety days. 3.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in LYFT. Spurstone Advisory Services LLC purchased a new stake in shares of Lyft in the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Lyft during the second quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after buying an additional 1,237 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Lyft in the first quarter valued at $35,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Company Profile

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.

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