Lyft (NASDAQ:LYFT) Insider Lindsay Catherine Llewellyn Sells 23,661 Shares

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total transaction of $314,691.30. Following the completion of the transaction, the insider directly owned 696,850 shares in the company, valued at $9,268,105. This represents a 3.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lyft Trading Down 1.8%

LYFT traded down $0.26 on Friday, reaching $13.84. 15,566,601 shares of the company traded hands, compared to its average volume of 16,678,688. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.51 billion, a P/E ratio of 2.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.93. The firm has a fifty day simple moving average of $17.29 and a two-hundred day simple moving average of $18.97. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54.

Lyft announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to purchase up to 15.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Lyft

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of Lyft by 2.5% in the third quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock worth $477,000 after buying an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 639 shares during the last quarter. CI Investments Inc. lifted its position in Lyft by 39.1% during the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 653 shares during the period. PNC Financial Services Group Inc. grew its stake in Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after purchasing an additional 681 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC grew its stake in Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent research reports. Wall Street Zen lowered shares of Lyft from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer set a $26.00 price objective on shares of Lyft and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Zephirin Group upped their target price on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 6th. Piper Sandler reiterated an “overweight” rating on shares of Lyft in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group boosted their price target on Lyft from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus target price of $19.66.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.