Lyft, Inc. (NASDAQ:LYFT) CEO John David Risher Buys 6,538 Shares

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CEO John David Risher acquired 6,538 shares of Lyft stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $15.29 per share, with a total value of $99,966.02. Following the completion of the acquisition, the chief executive officer now directly owns 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Lyft Stock Down 1.3%

Shares of LYFT traded down $0.20 during midday trading on Friday, hitting $15.15. The company had a trading volume of 14,053,646 shares, compared to its average volume of 16,399,320. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The firm has a market capitalization of $6.33 billion, a P/E ratio of 252.50, a P/E/G ratio of 1.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company's 50-day simple moving average is $13.16 and its 200-day simple moving average is $13.71.

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

Lyft declared that its board has approved a stock repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Wedbush reduced their price objective on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Roth Capital reaffirmed a "neutral" rating on shares of Lyft in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company lowered their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.63.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. KBC Group NV raised its position 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 acquiring an additional 207,672 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in Lyft during the fourth quarter worth approximately $280,000. Washington Capital Management Inc. purchased a new stake in shares of Lyft during the 4th quarter worth approximately $408,000. Gries Financial LLC acquired a new position in shares of Lyft in the 4th quarter valued at $200,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Lyft in the 4th quarter valued at $202,000. 83.07% of the stock is currently 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.