Lyft (NASDAQ:LYFT) Shares Down 3.8%

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s share price traded down 3.8% during trading on Monday . The company traded as low as $15.95 and last traded at $15.99. 7,682,595 shares were traded during trading, a decline of 52% from the average session volume of 16,080,539 shares. The stock had previously closed at $16.62.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Lyft from $15.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Monday, April 8th. Barclays lifted their price objective on Lyft from $17.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 8th. DA Davidson lifted their price objective on Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 8th. Morgan Stanley lifted their price target on Lyft from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on Lyft from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Lyft currently has a consensus rating of "Hold" and an average price target of $16.70.

Lyft Stock Performance

The stock has a market cap of $6.42 billion, a PE ratio of -34.19 and a beta of 2.05. The stock has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $15.05. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the transaction, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the transaction, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 15,724 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the transaction, the director now owns 1,204,071 shares of the company's stock, valued at approximately $21,083,283.21. The disclosure for this sale can be found here. Insiders sold a total of 274,856 shares of company stock worth $5,272,867 in the last 90 days. 3.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Lyft by 5.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company's stock valued at $336,000 after purchasing an additional 1,535 shares during the period. Fifth Third Bancorp boosted its position in shares of Lyft by 87.6% in the 3rd quarter. Fifth Third Bancorp now owns 24,270 shares of the ride-sharing company's stock valued at $256,000 after purchasing an additional 11,330 shares during the period. M&T Bank Corp boosted its position in shares of Lyft by 13.4% in the 3rd quarter. M&T Bank Corp now owns 15,835 shares of the ride-sharing company's stock valued at $166,000 after purchasing an additional 1,877 shares during the period. Principal Financial Group Inc. boosted its position in shares of Lyft by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 39,617 shares of the ride-sharing company's stock valued at $418,000 after purchasing an additional 3,029 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Lyft by 15.8% in the 3rd quarter. California Public Employees Retirement System now owns 504,807 shares of the ride-sharing company's stock valued at $5,321,000 after purchasing an additional 68,934 shares during the period. 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.