LYFT Sees Unusually High Options Volume (LYFT)

LYFT Inc (NASDAQ:LYFT) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 51,528 call options on the company. This is an increase of 2,420% compared to the average daily volume of 2,045 call options.

Shares of LYFT stock opened at $52.91 on Thursday. LYFT has a 1-year low of $52.78 and a 1-year high of $88.60.

A number of research firms recently weighed in on LYFT. Wedbush reaffirmed a “hold” rating and set a $67.00 price target on shares of LYFT in a report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of LYFT from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities initiated coverage on shares of LYFT in a report on Tuesday, April 23rd. They set an “outperform” rating and a $78.00 price objective for the company. Consumer Edge initiated coverage on shares of LYFT in a report on Monday, April 1st. They set a “neutral” rating and a $73.00 price objective for the company. Finally, Atlantic Securities initiated coverage on shares of LYFT in a report on Friday, May 3rd. They set an “underweight” rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.49.

In other news, Director R. Ann Miura-Ko purchased 1,650 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was acquired at an average cost of $72.00 per share, with a total value of $118,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional investors have recently bought and sold shares of the company. Gables Capital Management Inc. bought a new position in shares of LYFT in the 1st quarter worth about $145,000. SeaTown Holdings Pte. Ltd. bought a new position in shares of LYFT in the 1st quarter worth about $391,000. Columbus Circle Investors bought a new position in shares of LYFT in the 1st quarter worth about $20,523,000. Baillie Gifford & Co. bought a new position in shares of LYFT in the 1st quarter worth about $78,291,000. Finally, Calamos Advisors LLC bought a new position in shares of LYFT in the 1st quarter worth about $1,174,000. Institutional investors own 0.34% of the company’s stock.

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LYFT Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

Further Reading: Google Finance

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