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

Lyft, Inc. (NASDAQ:LYFT) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 57,892 call options on the company. This represents an increase of approximately 31% compared to the typical daily volume of 44,048 call options.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group cut their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, January 6th. Truist Financial increased their target price on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Wedbush lowered their target price on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.78.

Lyft Stock Performance

NASDAQ:LYFT opened at $15.12 on Tuesday. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82. The firm’s fifty day simple moving average is $14.09 and its 200 day simple moving average is $13.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -94.50, a PEG ratio of 1.94 and a beta of 2.16.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Lyft during the 2nd quarter worth approximately $388,000. CWM LLC raised its holdings in Lyft by 512.2% during the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock worth $544,000 after buying an additional 35,688 shares during the period. Wesbanco Bank Inc. purchased a new stake in Lyft in the 3rd quarter worth about $284,000. Vontobel Holding Ltd. increased its stake in shares of Lyft by 21.7% in the third quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company’s stock worth $602,000 after acquiring an additional 8,408 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Lyft by 2,103.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock valued at $252,000 after purchasing an additional 18,868 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other 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.