Lyft (NASDAQ:LYFT) Director Jill Beggs Sells 2,093 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,093 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director owned 32,185 shares of the company’s stock, valued at approximately $447,049.65. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lyft Stock Down 3.8%

Shares of Lyft stock opened at $13.21 on Wednesday. The stock’s 50-day moving average is $16.92 and its 200 day moving average is $19.02. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 1.94, a PEG ratio of 0.83 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.65 and a quick ratio of 0.65.

Lyft declared that its board has initiated a share buyback plan on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LYFT. Heartland Advisors Inc. lifted its position in shares of Lyft by 68.2% during the 3rd quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock valued at $13,092,000 after buying an additional 241,250 shares during the last quarter. Nierenberg Investment Management Company Inc. bought a new position in Lyft during the second quarter worth about $671,000. Savant Capital LLC increased its stake in shares of Lyft by 78.1% in the second quarter. Savant Capital LLC now owns 427,813 shares of the ride-sharing company’s stock worth $6,742,000 after purchasing an additional 187,625 shares in the last quarter. CWM LLC raised its position in shares of Lyft by 52.1% in the third quarter. CWM LLC now owns 819,677 shares of the ride-sharing company’s stock valued at $18,041,000 after purchasing an additional 280,886 shares during the period. Finally, Abacus FCF Advisors LLC purchased a new stake in shares of Lyft during the 3rd quarter valued at approximately $6,442,000. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Lyft from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, February 11th. Jefferies Financial Group lowered their price objective on shares of Lyft from $20.00 to $15.50 and set a “hold” rating on the stock in a report on Wednesday, February 11th. Sanford C. Bernstein lifted their price objective on shares of Lyft from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, November 10th. Arete Research set a $20.00 price target on shares of Lyft and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Susquehanna reissued a “neutral” rating and set a $15.00 price objective on shares of Lyft in a report on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.63.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.