Lyft (NASDAQ:LYFT) Shares Up 3.6%

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) were up 3.6% on Wednesday . The company traded as high as $16.58 and last traded at $16.58. Approximately 1,450,586 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 15,965,202 shares. The stock had previously closed at $16.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LYFT shares. Moffett Nathanson upgraded Lyft from a "sell" rating to a "neutral" rating in a report on Wednesday, February 14th. DA Davidson raised their price objective on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, May 8th. Piper Sandler raised their price objective on Lyft from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, May 8th. UBS Group raised their price objective on Lyft from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley raised their price objective on Lyft from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.70.

Lyft Stock Performance

The company has a 50-day simple moving average of $17.69 and a two-hundred day simple moving average of $15.09. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 6,500 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.30, for a total value of $105,950.00. Following the completion of the transaction, the president now directly owns 100,478 shares in the company, valued at approximately $1,637,791.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Kristin Sverchek sold 6,500 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.30, for a total transaction of $105,950.00. Following the completion of the sale, the president now directly owns 100,478 shares in the company, valued at approximately $1,637,791.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Logan Green sold 11,867 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now owns 346,341 shares of the company's stock, valued at $5,434,090.29. The disclosure for this sale can be found here. In the last three months, insiders sold 259,132 shares of company stock worth $4,997,540. 3.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Institutional investors have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC raised its position in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company's stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Allworth Financial LP raised its position in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. bought a new position in Lyft during the 4th quarter valued at approximately $34,000. Kapitalo Investimentos Ltda bought a new position in Lyft during the 4th quarter valued at approximately $34,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company's stock valued at $38,000 after purchasing an additional 1,567 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.