Lyft, Inc. (NASDAQ:LYFT – Get Free Report) was the recipient of unusually large options trading activity on Friday. Investors acquired 129,866 call options on the company. This is an increase of 99% compared to the typical volume of 65,212 call options.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LYFT. Tigress Financial upped their target price on shares of Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. Wells Fargo & Company increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, April 8th. TD Cowen upped their target price on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, Citigroup upped their target price on shares of Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. One research 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, Lyft currently has a consensus rating of “Hold” and an average target price of $14.60.
View Our Latest Research Report on Lyft
Lyft Stock Down 2.9 %
Lyft (NASDAQ:LYFT – Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities research analysts expect that Lyft will post -0.35 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 directly owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company’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 of the company’s stock, valued at approximately $9,521,929. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 15,724 shares of the company’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 transaction, the director now directly owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The disclosure for this sale can be found here. In the last three months, insiders sold 270,526 shares of company stock valued at $5,195,771. Company insiders own 3.16% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Lyft in the 1st quarter valued at $41,000. TB Alternative Assets Ltd. grew its stake in Lyft by 62.1% in the 1st quarter. TB Alternative Assets Ltd. now owns 529,300 shares of the ride-sharing company’s stock valued at $10,242,000 after buying an additional 202,700 shares during the last quarter. Range Financial Group LLC acquired a new position in Lyft in the 1st quarter valued at $470,000. GAMMA Investing LLC grew its stake in Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after buying an additional 664 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Lyft in the 4th quarter valued at $34,000. 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.
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