Insider Selling: Lyft (NASDAQ:LYFT) Director Sells 2,093 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director Jill Beggs sold 2,093 shares of the company'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 completion of the sale, the director directly owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Lyft Trading Up 2.1%

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LYFT opened at $14.11 on Friday. The stock has a market capitalization of $5.36 billion, a PE ratio of 2.06, a P/E/G ratio of 0.86 and a beta of 1.84. The firm's fifty day moving average price is $13.74 and its 200 day moving average price is $16.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

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

• 3 Major Buybacks Just Dropped—Here’s the Signal Investors See

Lyft announced that its board has initiated a stock repurchase plan on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 15.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Lyft

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Lyft by 7.4% in 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 acquiring an additional 1,773,438 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company's stock worth $191,245,000 after acquiring an additional 1,320,938 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company's stock worth $89,360,000 after acquiring an additional 2,467,010 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lyft in the 4th quarter worth about $109,987,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Wall Street Analyst Weigh In

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Several analysts recently issued reports on LYFT shares. DA Davidson cut their price target on shares of Lyft from $19.00 to $14.50 and set a "neutral" rating on the stock in a report on Monday, May 18th. Evercore set a $21.00 target price on shares of Lyft in a report on Wednesday, February 11th. Wells Fargo & Company dropped their target price on shares of Lyft from $26.00 to $18.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 11th. Guggenheim dropped their target price on shares of Lyft from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lyft from $25.00 to $16.00 and set a "hold" rating on the stock in a report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.83.

Read Our Latest Analysis on LYFT

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.

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