Lyft, Inc. (NASDAQ:LYFT) Director Sells $30,348.48 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lyft Trading Up 2.6 %

Shares of NASDAQ LYFT opened at $13.36 on Friday. The business’s 50 day moving average is $13.55 and its two-hundred day moving average is $13.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The stock has a market capitalization of $5.58 billion, a P/E ratio of 222.58, a PEG ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data 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 return on equity of 8.03% and a net margin of 0.39%. As a group, research analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has approved 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 typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LYFT shares. Roth Mkm lifted their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. 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. Susquehanna lowered their target price on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their target price on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group lowered their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Twenty-six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in shares of Lyft during the fourth quarter valued at approximately $950,000. American Trust bought a new position in shares of Lyft during the fourth quarter valued at approximately $154,000. Mackenzie Financial Corp bought a new position in shares of Lyft during the fourth quarter valued at approximately $2,395,000. Forum Financial Management LP bought a new position in shares of Lyft during the fourth quarter valued at approximately $132,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Lyft in the fourth quarter valued at approximately $279,000. 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.