Lyft (NASDAQ:LYFT) Shares Down 5.1%

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s stock price fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $17.25 and last traded at $17.33. 5,810,864 shares changed hands during trading, a decline of 65% from the average session volume of 16,777,115 shares. The stock had previously closed at $18.27.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYFT. Wells Fargo & Company boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock an "equal weight" rating in a report on Monday, April 8th. Barclays boosted their price objective on shares of Lyft from $14.00 to $17.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th. Moffett Nathanson upgraded shares of Lyft from a "sell" rating to a "neutral" rating in a report on Wednesday, February 14th. Piper Sandler boosted their price objective on shares of Lyft from $17.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, March 15th. Finally, UBS Group upped their target price on shares of Lyft from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.52.

Lyft Stock Performance

The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -19.87 and a beta of 1.98. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock's 50-day simple moving average is $17.41 and its 200 day simple moving average is $13.95.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Analysts expect that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Lyft

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 transaction of $85,163.40. Following the transaction, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Logan Green sold 11,867 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 346,341 shares of the company's stock, valued at $5,434,090.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction that occurred 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 sale, the president now directly owns 633,950 shares of the company's stock, valued at $9,521,929. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,526 shares of company stock worth $5,195,771. Corporate insiders own 3.16% of the company's stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently modified their holdings of LYFT. Allworth Financial LP raised its stake in shares of Lyft by 685.2% during the fourth 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 last quarter. a16z Perennial Management L.P. bought a new stake in shares of Lyft during the fourth quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new stake in shares of Lyft during the fourth quarter worth approximately $34,000. BluePath Capital Management LLC bought a new stake in shares of Lyft during the third quarter worth approximately $35,000. Finally, Gables Capital Management Inc. raised its stake in shares of Lyft by 129.0% during the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company's stock worth $37,000 after buying an additional 2,000 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

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.