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

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director now directly owns 20,467 shares in the company, valued at approximately $335,863.47. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lyft Price Performance

Shares of Lyft stock traded up $0.08 on Tuesday, reaching $15.35. The company's stock had a trading volume of 10,809,562 shares, compared to its average volume of 16,384,123. The company has a market capitalization of $6.42 billion, a P/E ratio of 255.83, a PEG ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The stock has a 50-day moving average price of $13.22 and a 200-day moving average price of $13.66. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The firm's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. Analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has approved a share buyback 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 repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC increased its position in shares of Lyft by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock valued at $290,000 after buying an additional 868 shares in the last quarter. Amalgamated Bank increased its position in shares of Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock worth $277,000 after purchasing an additional 892 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock worth $316,000 after purchasing an additional 903 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Lyft by 11.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock worth $107,000 after purchasing an additional 914 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after purchasing an additional 970 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LYFT shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Wells Fargo & Company lowered their price target on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $21.00 price target on shares of Lyft in a report on Monday, March 17th. Piper Sandler reissued an "overweight" rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Finally, Citigroup reissued an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.63.

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.