New Age Alpha Advisors LLC Sells 132,000 Shares of Lyft, Inc. (NASDAQ:LYFT)

New Age Alpha Advisors LLC lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 46.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 150,000 shares of the ride-sharing company’s stock after selling 132,000 shares during the period. New Age Alpha Advisors LLC’s holdings in Lyft were worth $1,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. True Wealth Design LLC purchased a new position in shares of Lyft during the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft in the 4th quarter valued at about $31,000. Byrne Asset Management LLC bought a new stake in shares of Lyft during the 4th quarter valued at about $35,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Lyft during the fourth quarter worth about $35,000. Institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock valued at $203,778 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYFT has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research report on Monday, March 17th. Wells Fargo & Company lowered their price target on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. DA Davidson cut their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Evercore ISI decreased their price objective on Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.03.

Lyft Price Performance

LYFT opened at $11.57 on Monday. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.64. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 192.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $12.94 and a two-hundred day simple moving average of $13.83.

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

Lyft announced that its Board of Directors has authorized a stock 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 reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.