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

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

Lyft Price Performance

Lyft stock opened at $12.66 on Tuesday. The firm has a fifty day moving average of $13.53 and a 200-day moving average of $13.77. The firm has a market capitalization of $5.29 billion, a P/E ratio of 211.00, a PEG ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a 52-week low of $8.93 and a 52-week 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.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has authorized a share buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $21.00 price target on shares of Lyft in a research report on Tuesday, February 18th. Roth Capital reiterated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. DA Davidson reduced their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Roth Mkm upped their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Twenty-six research 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 company. Based on data from MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price of $17.22.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in LYFT. Allspring Global Investments Holdings LLC grew its holdings in Lyft by 2,103.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock valued at $252,000 after purchasing an additional 18,868 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Lyft by 4,469.8% during the 3rd quarter. International Assets Investment Management LLC now owns 114,062 shares of the ride-sharing company’s stock valued at $1,454,000 after purchasing an additional 111,566 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Lyft during the 3rd quarter worth $424,000. New York State Teachers Retirement System acquired a new position in Lyft during the 3rd quarter worth $423,000. Finally, US Bancorp DE grew its holdings in Lyft by 25.9% during the 3rd quarter. US Bancorp DE now owns 40,494 shares of the ride-sharing company’s stock worth $516,000 after acquiring an additional 8,328 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

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.