Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs Sells 1,572 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,572 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $13.49, for a total transaction of $21,206.28. Following the transaction, the director now owns 23,611 shares of the company’s stock, valued at $318,512.39. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lyft Stock Up 0.1 %

Shares of Lyft stock opened at $12.74 on Wednesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a market cap of $5.32 billion, a P/E ratio of 212.30, a P/E/G ratio of 1.90 and a beta of 2.16. 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 stock has a 50-day moving average price of $13.58 and a 200 day moving average price of $13.69.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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%. As a group, analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock valued at $5,146,000 after purchasing an additional 49,138 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in shares of Lyft during the 4th quarter worth about $1,681,000. KBC Group NV raised its stake in shares of Lyft by 354.9% during the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after purchasing an additional 207,672 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Lyft by 59.6% during the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock worth $5,006,000 after purchasing an additional 142,880 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYFT has been the subject of several recent research reports. Roth Capital restated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Lyft in a report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, Evercore ISI reduced their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Twenty-six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.22.

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.