Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 557,629 shares of the ride-sharing company's stock after selling 30,940 shares during the period. Legal & General Group Plc owned approximately 0.13% of Lyft worth $7,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft in the fourth quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in Lyft in the 4th quarter valued at about $31,000. Byrne Asset Management LLC purchased a new stake in Lyft during the fourth quarter worth about $35,000. Plato Investment Management Ltd acquired a new stake in shares of Lyft during the fourth quarter worth about $35,000. Finally, Harbour Investments Inc. boosted its stake in shares of Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Price Performance

Lyft stock traded up $0.42 during midday trading on Wednesday, reaching $11.42. The company's stock had a trading volume of 9,890,187 shares, compared to its average volume of 15,576,087. The firm has a market capitalization of $4.77 billion, a PE ratio of 190.38, a P/E/G ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The stock's 50 day simple moving average is $11.92 and its 200 day simple moving average is $13.64. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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%. On average, equities research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its Board of Directors has approved a share repurchase plan 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 plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a report on Wednesday, February 12th. KeyCorp reiterated a "sector weight" rating on shares of Lyft in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lowered their target price on Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wedbush reduced their price target on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.45.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 completion of the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 in the last quarter. Company insiders own 3.07% 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.