Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs Sells 1,572 Shares

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,572 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $13.49, for a total transaction of $21,206.28. Following the transaction, the director now directly owns 23,611 shares of the company’s stock, valued at approximately $318,512.39. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Lyft Stock Performance

Shares of LYFT opened at $13.02 on Friday. The business’s 50 day moving average is $13.56 and its two-hundred day moving average is $13.68. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 217.00, a PEG 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 (NASDAQ:LYFT) last posted 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 net margin of 0.39% and a return on equity of 8.03%. Analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has initiated a stock buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Lyft

Several institutional investors and hedge funds have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC raised its position in shares of Lyft by 2,103.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock valued at $252,000 after acquiring an additional 18,868 shares in the last quarter. International Assets Investment Management LLC increased its position in Lyft by 4,469.8% in the third quarter. International Assets Investment Management LLC now owns 114,062 shares of the ride-sharing company’s stock worth $1,454,000 after buying an additional 111,566 shares during the period. Allworth Financial LP increased its position in Lyft by 34.1% in the third quarter. Allworth Financial LP now owns 7,282 shares of the ride-sharing company’s stock worth $93,000 after buying an additional 1,852 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Lyft in the third quarter worth $424,000. Finally, Carret Asset Management LLC increased its position in Lyft by 13.8% in the third quarter. Carret Asset Management LLC now owns 13,425 shares of the ride-sharing company’s stock worth $171,000 after buying an additional 1,625 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Susquehanna dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. TD Cowen boosted their target price on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Evercore ISI decreased their target price on Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Wedbush decreased their target price on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Citigroup reiterated an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. Twenty-six research 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 company. According to MarketBeat.com, Lyft has a consensus 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.