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

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,572 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $13.49, for a total value of $21,206.28. Following the completion of the sale, the director now owns 23,611 shares of the company’s stock, valued at $318,512.39. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Lyft Price Performance

Lyft stock traded up $0.02 during midday trading on Tuesday, hitting $12.74. The company’s stock had a trading volume of 18,306,745 shares, compared to its average volume of 20,321,871. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $13.61 and its 200-day moving average price is $13.67. The company has a market capitalization of $5.32 billion, a PE ratio of 212.30, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has approved a share repurchase 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 often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on LYFT shares. Evercore ISI lowered their target price on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald dropped their price objective on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Bank of America upped their target price on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.22.

Institutional Investors Weigh In On Lyft

Several large investors have recently modified their holdings of LYFT. American Trust purchased a new stake in shares of Lyft during the fourth quarter valued at $154,000. Mackenzie Financial Corp purchased a new position in Lyft in the 4th quarter worth about $2,395,000. Forum Financial Management LP acquired a new stake in Lyft during the 4th quarter worth about $132,000. Toronto Dominion Bank purchased a new stake in Lyft during the fourth quarter valued at about $279,000. Finally, Neo Ivy Capital Management boosted its holdings in shares of Lyft by 52.4% in the fourth quarter. Neo Ivy Capital Management now owns 167,718 shares of the ride-sharing company’s stock worth $2,163,000 after buying an additional 57,694 shares during the period. 83.07% of the stock is owned by institutional investors.

About Lyft

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.