Lyft, Inc. (NASDAQ:LYFT) Director Logan Green Sells 11,411 Shares

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Lyft Trading Down 5.1 %

Shares of Lyft stock opened at $12.66 on Tuesday. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company’s 50-day simple moving average is $13.53 and its 200-day simple moving average is $13.77. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 211.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its quarterly 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%. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has authorized a stock repurchase program 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 repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spurstone Advisory Services LLC acquired a new position in Lyft during the fourth quarter worth about $25,000. True Wealth Design LLC acquired a new position in Lyft during the third quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the fourth quarter worth about $29,000. ORG Wealth Partners LLC acquired a new position in Lyft during the fourth quarter worth about $31,000. Finally, Plato Investment Management Ltd acquired a new position in Lyft during the fourth quarter worth about $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI decreased their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. TD Cowen lifted their price objective on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.22.

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.