Logan Green Sells 10,919 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 10,919 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lyft Price Performance

Shares of LYFT opened at $16.92 on Wednesday. The firm has a market cap of $7.02 billion, a PE ratio of -105.75, a P/E/G ratio of 4.98 and a beta of 2.09. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $13.57.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Lyft’s revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, equities analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Lyft

Several large investors have recently added to or reduced their stakes in LYFT. True Wealth Design LLC purchased a new position in shares of Lyft during the 3rd quarter worth $27,000. Brown Brothers Harriman & Co. purchased a new position in Lyft during the second quarter valued at $35,000. International Assets Investment Management LLC bought a new stake in Lyft during the second quarter valued at about $35,000. Capital Performance Advisors LLP purchased a new stake in Lyft in the third quarter worth about $38,000. Finally, Quarry LP raised its stake in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYFT has been the topic of several recent analyst reports. Susquehanna raised their target price on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Roth Mkm upped their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $17.00) on shares of Lyft in a research note on Thursday, November 7th. Wedbush reissued a “neutral” rating and set a $20.00 price objective (up from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Truist Financial raised their target price on shares of Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $17.55.

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.