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

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,572 shares of the stock in a transaction 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. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lyft Stock Performance

LYFT traded up $0.02 during midday trading on Tuesday, reaching $12.74. The company’s stock had a trading volume of 18,306,745 shares, compared to its average volume of 20,321,871. 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 company has a fifty day simple moving average of $13.61 and a 200 day simple moving average of $13.67. The stock has a market cap of $5.32 billion, a P/E ratio of 212.30, a PEG ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data 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%. Research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Analyst Ratings Changes

Several brokerages recently issued reports on LYFT. Wells Fargo & Company reduced their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. 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 research report on Tuesday, February 11th. DA Davidson lowered their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. UBS Group dropped 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. Finally, Susquehanna decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Twenty-six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.22.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. American Trust acquired a new stake in Lyft during the fourth quarter worth about $154,000. Mackenzie Financial Corp bought a new stake in shares of Lyft in the 4th quarter worth approximately $2,395,000. Forum Financial Management LP acquired a new stake in shares of Lyft during the 4th quarter worth approximately $132,000. Toronto Dominion Bank bought a new stake in shares of Lyft during the fourth quarter valued at approximately $279,000. Finally, Neo Ivy Capital Management raised its stake 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 valued at $2,163,000 after purchasing an additional 57,694 shares in the last quarter. Institutional investors and hedge funds 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.