Lyft (NASDAQ:LYFT) Director Sells $28,799.68 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director owned 30,092 shares in the company, valued at $414,065.92. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

Shares of LYFT stock opened at $14.11 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $5.36 billion, a P/E ratio of 2.06, a P/E/G ratio of 0.88 and a beta of 1.82. The company’s 50-day simple moving average is $13.74 and its two-hundred day simple moving average is $16.44. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.Lyft’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. As a group, equities analysts anticipate that Lyft, Inc. will post 0.66 EPS for the current year.

Lyft declared that its Board of Directors has approved a share buyback program on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on LYFT shares. Barclays dropped their target price on shares of Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Truist Financial increased their target price on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Wells Fargo & Company decreased their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Lyft in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.83.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. increased its stake in shares of Lyft by 16.4% in the first quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock worth $812,000 after acquiring an additional 8,600 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of Lyft in the first quarter worth $160,000. Altshuler Shaham Ltd increased its stake in shares of Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the period. California State Teachers Retirement System increased its stake in shares of Lyft by 22.8% in the first quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock worth $5,976,000 after acquiring an additional 83,412 shares during the period. Finally, Readystate Asset Management LP increased its stake in shares of Lyft by 45.1% in the first quarter. Readystate Asset Management LP now owns 231,292 shares of the ride-sharing company’s stock worth $3,076,000 after acquiring an additional 71,892 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.