Lyft, Inc. (NASDAQ:LYFT) Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC decreased its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 have also recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in Lyft in the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft in the 4th quarter valued at about $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft in the 4th quarter valued at about $31,000. Plato Investment Management Ltd purchased a new position in Lyft during the 4th quarter worth approximately $35,000. Finally, Byrne Asset Management LLC acquired a new position in Lyft during the fourth quarter worth approximately $35,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares of the company's stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

Shares of LYFT stock traded down $0.64 during mid-day trading on Friday, reaching $10.84. The stock had a trading volume of 19,189,049 shares, compared to its average volume of 15,401,583. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.55. 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 business has a 50-day simple moving average of $12.76 and a 200 day simple moving average of $13.81. The company has a market cap of $4.53 billion, a P/E ratio of 180.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its 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 return on equity of 8.03% and a net margin of 0.39%. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its board has approved a stock repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush decreased their price objective on Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Evercore ISI lowered their price objective on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 12th. DA Davidson 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. BMO Capital Markets decreased their target price on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler restated an "overweight" rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.66.

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.