Insider Selling: Lyft, Inc. (NASDAQ:LYFT) Director Sells 11,411 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director Logan Green sold 11,411 shares of Lyft stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now directly owns 297,640 shares of the company's stock, 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 through this hyperlink.

Lyft Trading Down 0.8 %

Shares of NASDAQ:LYFT traded down $0.10 during mid-day trading on Thursday, reaching $12.27. 6,549,446 shares of the company's stock were exchanged, compared to its average volume of 14,949,423. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 204.53, a PEG ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The business's fifty day moving average price is $13.47 and its 200-day moving average price is $13.77. 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 posted its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 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%. On average, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup reaffirmed an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. Morgan Stanley upped their price target 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. Loop Capital lifted their price objective on shares of Lyft from $16.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Piper Sandler restated an "overweight" rating and set a $18.00 target price (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Tigress Financial raised their target price on shares of Lyft from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Twenty-six 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LYFT. Spurstone Advisory Services LLC bought a new stake in Lyft in the fourth quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Lyft during the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft in the 4th quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in shares of Lyft during the 4th quarter valued at $31,000. Finally, Plato Investment Management Ltd bought a new position in Lyft during the fourth quarter worth $35,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.