Lyft (NASDAQ:LYFT) Shares Down 3.5% Following Insider Selling

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) traded down 3.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $15.45 and last traded at $15.42. 3,747,240 shares traded hands during trading, a decline of 77% from the average session volume of 16,248,584 shares. The stock had previously closed at $15.98.

Specifically, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director now directly owns 879,498 shares in the company, valued at approximately $13,896,068.40. The trade was a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYFT. Loop Capital dropped their target price on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Barclays boosted their target price on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Tigress Financial reiterated a "buy" rating and issued a $28.00 target price (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Wedbush dropped their target price on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.63.

Lyft Stock Performance

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 firm's 50 day moving average is $13.16 and its 200-day moving average is $13.71. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 252.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14.

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

Lyft announced that its board has authorized a stock buyback program 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 programs are often an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in LYFT. KBC Group NV lifted its stake in shares of Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock worth $3,434,000 after buying an additional 207,672 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Lyft during the 4th quarter worth $202,000. Optas LLC boosted its holdings in Lyft by 36.9% during the fourth quarter. Optas LLC now owns 21,226 shares of the ride-sharing company's stock valued at $274,000 after acquiring an additional 5,720 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of Lyft in the fourth quarter valued at about $1,681,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft in the fourth quarter worth about $29,000. Institutional investors own 83.07% of the company's stock.

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.