Investors Purchase High Volume of Lyft Call Options (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFT) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 128,895 call options on the stock. This represents an increase of approximately 146% compared to the typical volume of 52,365 call options.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LYFT. Wedbush increased their target price on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Barclays increased their price objective on Lyft from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Fox Advisors upgraded Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Friday, June 7th. Truist Financial increased their price objective on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Loop Capital upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $18.04.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the transaction, the president now owns 47,778 shares in the company, valued at approximately $659,814.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $131,046.42. Following the completion of the transaction, the director now owns 924,621 shares in the company, valued at approximately $15,293,231.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.81, for a total transaction of $41,430.00. Following the transaction, the president now owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,333 shares of company stock worth $518,714. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after buying an additional 782,736 shares in the last quarter. Norges Bank acquired a new stake in Lyft during the fourth quarter valued at approximately $94,687,000. Jacobs Levy Equity Management Inc. raised its stake in Lyft by 1.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after buying an additional 63,461 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lyft by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after purchasing an additional 141,823 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after buying an additional 812,926 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 3.8 %

Shares of NASDAQ:LYFT traded up $0.40 during trading on Tuesday, hitting $10.97. The company’s stock had a trading volume of 27,573,904 shares, compared to its average volume of 15,414,222. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The stock’s 50-day moving average price is $13.61 and its two-hundred day moving average price is $15.47. The company has a market capitalization of $4.43 billion, a PE ratio of -23.06 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, sell-side analysts expect that Lyft will post -0.18 EPS for the current year.

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.