Traders Buy High Volume of Put Options on LYFT (LYFT)

LYFT Inc (NASDAQ:LYFT) was the recipient of some unusual options trading on Wednesday. Stock traders bought 57,640 put options on the company. This is an increase of approximately 3,458% compared to the average volume of 1,620 put options.

A number of research analysts have recently commented on LYFT shares. DA Davidson started coverage on LYFT in a research note on Tuesday, March 19th. They set a “buy” rating and a $75.00 target price on the stock. Piper Jaffray Companies started coverage on LYFT in a research note on Tuesday, April 23rd. They set an “overweight” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. started coverage on LYFT in a research note on Tuesday, April 23rd. They set an “overweight” rating and a $82.00 target price on the stock. Raymond James started coverage on LYFT in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Cross Research started coverage on LYFT in a research note on Tuesday, April 2nd. They set a “buy” rating and a $69.01 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.49.

In other LYFT news, Director R. Ann Miura-Ko bought 1,650 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were purchased at an average price of $72.00 per share, with a total value of $118,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Large investors have recently made changes to their positions in the stock. Gables Capital Management Inc. bought a new position in LYFT in the first quarter worth approximately $145,000. SeaTown Holdings Pte. Ltd. bought a new position in LYFT in the first quarter worth approximately $391,000. Columbus Circle Investors bought a new position in LYFT in the first quarter worth approximately $20,523,000. Baillie Gifford & Co. bought a new position in LYFT in the first quarter worth approximately $78,291,000. Finally, Calamos Advisors LLC bought a new position in LYFT in the first quarter worth approximately $1,174,000. 0.34% of the stock is currently owned by institutional investors.

Shares of NASDAQ:LYFT opened at $52.91 on Thursday. LYFT has a 52-week low of $52.78 and a 52-week high of $88.60.

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About LYFT

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.

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