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

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

Lyft Price Performance

Shares of NASDAQ:LYFT traded down $0.68 during mid-day trading on Monday, reaching $12.66. The stock had a trading volume of 17,574,307 shares, compared to its average volume of 20,405,838. 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 company has a market cap of $5.29 billion, a P/E ratio of 211.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The business’s 50 day moving average price is $13.53 and its 200 day moving average price is $13.77.

Lyft (NASDAQ:LYFT) last posted its earnings results 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 return on equity of 8.03% and a net margin of 0.39%. Research 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 outstanding shares. This buyback authorization authorizes the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Evercore ISI dropped their price objective on Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. TD Cowen increased their price objective on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, Roth Capital reiterated a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.22.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in Lyft during the fourth quarter valued at approximately $950,000. American Trust purchased a new stake in Lyft during the fourth quarter valued at approximately $154,000. Mackenzie Financial Corp bought a new position in shares of Lyft during the fourth quarter valued at approximately $2,395,000. Forum Financial Management LP bought a new position in shares of Lyft during the fourth quarter valued at approximately $132,000. Finally, Toronto Dominion Bank bought a new position in shares of Lyft during the fourth quarter valued at approximately $279,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.