Key Points
- Insider sale: Lindsay Catherine Llewellyn sold 23,661 Lyft shares on April 17 at an average price of $15.00 for $354,915, reducing her position by 2.52% to 916,022 shares; the transaction was executed under a pre-arranged Rule 10b5-1 plan.
- Share buyback approved: Lyft’s board authorized a $1.00 billion repurchase program, enabling the company to buy up to about 15.1% of its shares, a signal management may view the stock as undervalued.
- Analyst and ownership backdrop: The stock carries an average analyst rating of “Hold” with an average price target of $19.55, and about 83% of shares are held by institutional investors.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) insider Lindsay Catherine Llewellyn sold 23,661 shares of the business's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $354,915.00. Following the sale, the insider owned 916,022 shares of the company's stock, valued at approximately $13,740,330. The trade was a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Lindsay Catherine Llewellyn also recently made the following trade(s):
- On Wednesday, February 25th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The shares were sold at an average price of $13.30, for a total value of $314,691.30.
Lyft Trading Up 2.3%
NASDAQ LYFT opened at $14.75 on Wednesday. The stock has a 50-day simple moving average of $13.56 and a 200 day simple moving average of $17.66. The company has a market capitalization of $5.87 billion, a PE ratio of 2.16, a P/E/G ratio of 0.88 and a beta of 1.85. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. Lyft, Inc. has a 12 month low of $10.98 and a 12 month high of $25.54.
Lyft announced that its board has approved a share repurchase plan on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
LYFT has been the subject of a number of recent analyst reports. Roth Mkm set a $22.00 price objective on Lyft in a report on Wednesday, February 11th. Piper Sandler reiterated an "overweight" rating on shares of Lyft in a report on Wednesday, February 11th. Wedbush dropped their price objective on Lyft from $16.00 to $13.00 and set an "underperform" rating for the company in a report on Wednesday, February 11th. KeyCorp reiterated a "sector weight" rating on shares of Lyft in a report on Wednesday, February 11th. Finally, Wells Fargo & Company dropped their price objective on Lyft from $26.00 to $18.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $19.55.
View Our Latest Analysis on LYFT
Institutional Investors Weigh In On Lyft
Several large investors have recently modified their holdings of LYFT. Norges Bank bought a new stake in shares of Lyft in the fourth quarter worth about $109,987,000. Swedbank AB bought a new stake in shares of Lyft in the fourth quarter worth about $108,472,000. Contour Asset Management LLC bought a new stake in shares of Lyft in the fourth quarter worth about $75,870,000. Victory Capital Management Inc. increased its holdings in shares of Lyft by 479.1% in the third quarter. Victory Capital Management Inc. now owns 3,580,564 shares of the ride-sharing company's stock worth $78,808,000 after acquiring an additional 2,962,266 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Lyft during the third quarter worth about $41,381,000. 83.07% of the stock is currently owned by institutional investors.
Lyft Company Profile
(
Get Free Report)
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.
Further Reading
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