Lyft (NASDAQ:LYFT) Director Sells $28,799.68 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

NASDAQ LYFT traded up $0.29 on Friday, reaching $14.11. The company’s stock had a trading volume of 14,549,438 shares, compared to its average volume of 16,264,120. The firm has a market cap of $5.36 billion, a PE ratio of 2.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84. The business has a 50-day moving average price of $13.74 and a 200 day moving average price of $16.49. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. Sell-side analysts expect that Lyft, Inc. will post 0.66 EPS for the current year.

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

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Lyft during the fourth quarter worth $26,000. Boreal Capital Management LLC bought a new stake in shares of Lyft during the first quarter worth $31,000. Bessemer Group Inc. raised its position in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Lyft during the fourth quarter worth $40,000. Finally, Huntington National Bank lifted its holdings in Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the period. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent analyst reports. Wedbush reduced their price target on shares of Lyft from $16.00 to $13.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Lyft in a research report on Wednesday, February 11th. Morgan Stanley set a $17.00 price target on shares of Lyft in a research report on Wednesday, February 11th. Cantor Fitzgerald reduced their price target on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.83.

About Lyft

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.