Lyft, Inc. (NASDAQ:LYFT) Director Sells $152,222.74 in Stock

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

Lyft Stock Down 2.0 %

Shares of NASDAQ LYFT opened at $12.41 on Wednesday. Lyft, Inc. has a one year low of $8.93 and a one 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’s 50 day simple moving average is $13.50 and its two-hundred day simple moving average is $13.78. The stock has a market capitalization of $5.19 billion, a P/E ratio of 206.83, a PEG ratio of 1.90 and a beta of 2.16.

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

Lyft declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYFT. Roth Capital reiterated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. UBS Group lowered their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley increased their price target on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Bank of America increased their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, DA Davidson lowered their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the fourth quarter worth approximately $25,000. True Wealth Design LLC bought a new position in shares of Lyft in the third quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft in the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of Lyft in the fourth quarter worth approximately $31,000. Finally, Plato Investment Management Ltd bought a new stake in Lyft in the fourth quarter valued at $35,000. 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.