Lyft, Inc. (NASDAQ:LYFT) Director Sells $21,206.28 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,572 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $13.49, for a total transaction of $21,206.28. Following the transaction, the director now owns 23,611 shares in the company, valued at approximately $318,512.39. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Lyft Trading Up 1.6 %

NASDAQ:LYFT opened at $13.02 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 217.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. 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, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The stock has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $13.68.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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, Inc. will post 0.22 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC acquired a new position in Lyft in the 4th quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Lyft in the 3rd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft in the 4th quarter valued at about $29,000. ORG Wealth Partners LLC acquired a new position in shares of Lyft during the 4th quarter valued at about $31,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Lyft during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lowered their price objective on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Wednesday, February 12th. Wedbush lowered their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, TD Cowen lifted their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and an average target price of $17.22.

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.