Traders Buy Large 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 bought 57,892 call options on the stock. This represents an increase of 31% compared to the typical daily volume of 44,048 call options.

Insider Buying and Selling at Lyft

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

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in shares of Lyft in the third quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Lyft in the fourth quarter valued at about $31,000. Byrne Asset Management LLC acquired a new stake in Lyft in the fourth quarter worth about $35,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Lyft during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 6.7 %

Shares of Lyft stock 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 has a market cap of $6.27 billion, a price-to-earnings ratio of -94.50, a PEG ratio of 1.94 and a beta of 2.16. The business has a 50-day moving average price of $14.09 and a 200-day moving average price of $13.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYFT. Susquehanna raised their price objective on Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. TD Cowen boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Roth Mkm boosted their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.78.

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.