Lyft (NASDAQ:LYFT) Trading Down 4.8%

Shares of Lyft, Inc. (NASDAQ:LYFT) were down 4.8% on Wednesday . The company traded as low as $18.63 and last traded at $18.69. Approximately 3,872,190 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 17,868,871 shares. The stock had previously closed at $19.63.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LYFT. UBS Group raised their target price on Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. BMO Capital Markets started coverage on shares of Lyft in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $15.00 price target on the stock. Argus raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, March 5th. Finally, Moffett Nathanson raised Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $14.40.

Lyft Stock Down 0.7 %

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $7.74 billion, a PE ratio of -21.74 and a beta of 1.95. The company’s 50 day moving average is $15.79 and its two-hundred day moving average is $13.16.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, analysts anticipate that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 5,669 shares of Lyft stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $14.16, for a total value of $80,273.04. Following the sale, the president now owns 639,620 shares of the company’s stock, valued at approximately $9,057,019.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Kristin Sverchek sold 5,669 shares of Lyft stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $14.16, for a total value of $80,273.04. Following the completion of the transaction, the president now owns 639,620 shares of the company’s stock, valued at approximately $9,057,019.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,195 shares of company stock valued at $5,276,044. Insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in shares of Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. bought a new position in Lyft during the fourth quarter valued at $34,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Lyft in the fourth quarter valued at $40,000. Quarry LP bought a new stake in shares of Lyft in the 4th quarter worth about $44,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Lyft during the 3rd quarter worth about $35,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.