Lyft Target of Unusually Large Options Trading (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFT) saw some unusual options trading activity on Tuesday. Stock investors bought 83,415 call options on the stock. This represents an increase of 80% compared to the typical daily volume of 46,249 call options.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,407 shares of company stock worth $203,778. Insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in Lyft by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 355,864 shares of the ride-sharing company’s stock valued at $4,591,000 after buying an additional 1,783 shares during the period. 111 Capital purchased a new stake in shares of Lyft during the 4th quarter worth about $268,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Lyft by 157.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 85,600 shares of the ride-sharing company’s stock valued at $1,104,000 after acquiring an additional 52,333 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in shares of Lyft in the 4th quarter valued at about $213,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Lyft in the 4th quarter valued at about $950,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LYFT shares. UBS Group decreased their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Monday. DA Davidson dropped their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Cantor Fitzgerald cut their price target on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Twenty-six investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.03.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.27 during trading on Tuesday, hitting $12.49. The stock had a trading volume of 39,008,139 shares, compared to its average volume of 15,033,141. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft has a 12-month low of $8.93 and a 12-month high of $20.40. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 208.17, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The stock has a 50-day simple moving average of $13.03 and a two-hundred day simple moving average of $13.81.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities research analysts expect that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.