Logan Green Sells 11,411 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Lyft Stock Performance

NASDAQ LYFT opened at $12.41 on Wednesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 206.83, a PEG ratio of 1.90 and a beta of 2.16. The company has a fifty day moving average price of $13.50 and a 200-day moving average price of $13.78.

Lyft (NASDAQ:LYFT) last posted its quarterly 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%. As a group, equities research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its board has authorized a stock buyback plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Roth Mkm boosted their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Tigress Financial boosted their target price on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $21.00 target price on shares of Lyft in a research report on Tuesday, February 18th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Bank of America boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Twenty-six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.22.

Hedge Funds Weigh In On Lyft

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock valued at $5,146,000 after buying an additional 49,138 shares during the period. Pacer Advisors Inc. grew its position in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares during the period. Paragon Capital Management Inc. bought a new position in Lyft during the fourth quarter valued at about $1,681,000. KBC Group NV grew its position in Lyft by 354.9% during the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after buying an additional 207,672 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Lyft by 7,536.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after purchasing an additional 1,830,533 shares during the period. Institutional investors own 83.07% of the company’s stock.

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.