Lyft, Inc. (NASDAQ:LYFT) Director Sells $152,222.74 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lyft Stock Performance

Shares of Lyft stock traded down $0.68 during mid-day trading on Monday, hitting $12.66. 17,574,307 shares of the stock were exchanged, compared to its average volume of 20,405,838. The company has a 50-day simple moving average of $13.53 and a 200 day simple moving average of $13.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a market capitalization of $5.29 billion, a P/E ratio of 211.00, a P/E/G ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Spurstone Advisory Services LLC purchased a new position in Lyft during the fourth quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in Lyft in the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lyft during the 4th quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in Lyft during the fourth quarter worth about $31,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Lyft during the fourth quarter worth about $35,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYFT. Bank of America increased their price target on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Evercore ISI decreased their price target on Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Barclays cut their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock 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.