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

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CEO John David Risher acquired 6,538 shares of the stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the transaction, the chief executive officer now owns 11,791,340 shares of the company's stock, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Lyft Stock Up 0.5%

LYFT traded up $0.07 during trading hours on Tuesday, hitting $15.34. 4,405,184 shares of the company's stock were exchanged, compared to its average volume of 16,329,112. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 255.67, a PEG ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. The stock's 50-day moving average is $13.22 and its two-hundred day moving average is $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 issued 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). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. The company's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. Sell-side analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has authorized a share buyback plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LYFT. Vanguard Group Inc. increased its holdings in Lyft by 5.7% during the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock worth $451,645,000 after buying an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after buying an additional 5,178,118 shares during the last quarter. Rakuten Group Inc. acquired a new position in Lyft in the 1st quarter valued at about $130,434,000. AQR Capital Management LLC lifted its position in Lyft by 103.3% during the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after acquiring an additional 4,980,876 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock worth $120,463,000 after acquiring an additional 1,224,056 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LYFT shares. Wells Fargo & Company decreased their price target on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Susquehanna lifted their price objective on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 12th. DA Davidson reiterated a "neutral" rating and set a $15.00 target price on shares of Lyft in a research report on Wednesday, April 16th. Barclays upped their price objective on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, BMO Capital Markets reduced their target price on Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.