Logan Green Sells 10,919 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 10,919 shares of Lyft stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lyft Stock Down 1.1 %

Shares of LYFT stock traded down $0.19 during trading hours on Monday, reaching $17.17. 6,837,869 shares of the stock were exchanged, compared to its average volume of 15,072,165. The business’s fifty day moving average is $14.78 and its two-hundred day moving average is $13.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $7.12 billion, a P/E ratio of -107.31, a P/E/G ratio of 5.04 and a beta of 2.04. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts expect that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYFT has been the topic of several recent research reports. Bank of America lifted their target price on shares of Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Wedbush reissued a “neutral” rating and set a $20.00 price target (up previously from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Royal Bank of Canada lowered their price target on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Loop Capital lowered their price target on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $17.55.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in Lyft in the third quarter valued at approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft in the second quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lyft in the third quarter valued at approximately $38,000. Finally, Quarry LP boosted its holdings in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after acquiring an additional 3,468 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

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.