Lyft (NASDAQ:LYFT) Stock Price Down 3.4%

Lyft, Inc. (NASDAQ:LYFT)’s share price was down 3.4% during mid-day trading on Monday . The stock traded as low as $10.18 and last traded at $10.22. Approximately 9,844,632 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 17,016,580 shares. The stock had previously closed at $10.58.

Analyst Ratings Changes

Several analysts have commented on LYFT shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $12.00 price target on shares of Lyft in a research note on Tuesday, September 5th. Wedbush boosted their price target on Lyft from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Credit Suisse Group lowered their price objective on Lyft from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Wells Fargo & Company raised their price objective on Lyft from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Finally, DA Davidson upped their target price on Lyft from $9.75 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.29.

Lyft Stock Down 3.6 %

The firm has a 50 day moving average of $10.41 and a 200-day moving average of $10.41. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $4.01 billion, a P/E ratio of -4.30 and a beta of 1.79.

Insider Activity

In other Lyft news, Director Prashant Aggarwal purchased 96,900 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $10.34 per share, with a total value of $1,001,946.00. Following the acquisition, the director now directly owns 971,269 shares of the company’s stock, valued at approximately $10,042,921.46. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Prashant Aggarwal purchased 96,900 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were bought at an average price of $10.34 per share, with a total value of $1,001,946.00. Following the purchase, the director now directly owns 971,269 shares in the company, valued at approximately $10,042,921.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 7,862 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $11.44, for a total value of $89,941.28. Following the completion of the transaction, the director now directly owns 472,970 shares in the company, valued at approximately $5,410,776.80. The disclosure for this sale can be found here. 3.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Several large investors have recently made changes to their positions in the stock. Kistler Tiffany Companies LLC acquired a new position in Lyft during the 1st quarter worth approximately $28,000. Kennicott Capital Management LLC bought a new stake in shares of Lyft during the 2nd quarter valued at $33,000. Signaturefd LLC increased its holdings in Lyft by 87.1% in the 1st quarter. Signaturefd LLC now owns 3,801 shares of the ride-sharing company’s stock valued at $35,000 after buying an additional 1,769 shares during the period. BluePath Capital Management LLC acquired a new position in Lyft during the third quarter valued at approximately $35,000. Finally, Gables Capital Management Inc. lifted its position in shares of Lyft by 129.0% during the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 71.63% of the company’s stock.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.