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

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Up 2.1%

Shares of Lyft stock traded up $0.29 during midday trading on Friday, reaching $14.11. 14,549,438 shares of the company’s stock traded hands, compared to its average volume of 16,264,120. The company’s 50 day simple moving average is $13.74 and its 200 day simple moving average is $16.49. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 2.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts expect that Lyft, Inc. will post 0.66 earnings per share for the current fiscal year.

Lyft declared that its board has authorized a share buyback program on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to buy up to 15.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on LYFT shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lyft from $25.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, February 11th. Royal Bank Of Canada cut their target price on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Mizuho cut their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group cut their target price on shares of Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a research report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in shares of Lyft by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after purchasing an additional 1,773,438 shares during the period. Renaissance Technologies LLC increased its stake in Lyft by 15.4% in the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after acquiring an additional 1,320,938 shares during the period. Altshuler Shaham Ltd increased its stake in Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock valued at $101,905,000 after acquiring an additional 2,607,417 shares during the period. Dimensional Fund Advisors LP increased its stake in Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after acquiring an additional 2,467,010 shares during the period. Finally, Norges Bank bought a new stake in Lyft in the fourth quarter valued at about $109,987,000. Institutional investors own 83.07% of the company’s stock.

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.