Lyft Target of Unusually Large Options Trading (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) was the recipient of some unusual options trading on Friday. Investors bought 129,866 call options on the stock. This represents an increase of approximately 99% compared to the typical daily volume of 65,212 call options.

Lyft Trading Down 3.4 %

LYFT stock traded down $0.56 during mid-day trading on Friday, hitting $16.15. 13,279,510 shares of the company were exchanged, compared to its average volume of 16,772,695. The business has a fifty day simple moving average of $17.58 and a 200-day simple moving average of $13.99. The firm has a market capitalization of $6.46 billion, a P/E ratio of -18.22 and a beta of 1.98. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT - Get Free Report) last released 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. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, equities research analysts predict that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, President Kristin Sverchek sold 5,670 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares of the company's stock, valued at approximately $9,521,929. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 15,724 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the sale, the director now owns 1,204,071 shares in the company, valued at $21,083,283.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,526 shares of company stock worth $5,195,771. Company insiders own 3.16% of the company's stock.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP increased its stake in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company's stock worth $29,000 after buying an additional 1,672 shares during the period. a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the fourth quarter valued at $34,000. Kapitalo Investimentos Ltda purchased a new position in Lyft in the fourth quarter valued at $34,000. BluePath Capital Management LLC acquired a new position in Lyft during the 3rd quarter worth $35,000. Finally, Gables Capital Management Inc. increased its holdings in Lyft by 129.0% during the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company's stock worth $37,000 after purchasing an additional 2,000 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research analyst reports. UBS Group increased their price target on Lyft from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. Truist Financial upped their price objective on shares of Lyft from $13.00 to $15.00 and gave the company a "hold" rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Lyft from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Argus upgraded shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. Finally, Wedbush reissued a "neutral" rating and set a $15.00 price objective (up from $14.00) on shares of Lyft in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $14.60.

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.