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

by · The Cerbat Gem

Lyft, Inc. (NASDAQ:LYFT – Get Free Report) Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Wednesday, May 27th. The stock was 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 of the company’s stock, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Performance

NASDAQ:LYFT opened at $14.11 on Friday. The firm has a 50 day simple moving average of $13.74 and a 200-day simple moving average of $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. The firm has a market cap of $5.36 billion, a PE ratio of 2.06, a P/E/G ratio of 0.86 and a beta of 1.84. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54.

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

Lyft announced that its board has initiated a stock repurchase program on Tuesday, February 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the ride-sharing company to purchase up to 15.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LYFT. Canaccord Genuity Group decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating on shares of Lyft in a research note on Wednesday, February 11th. Roth Mkm reiterated a “buy” rating and set a $23.00 price objective on shares of Lyft in a research note on Friday, May 8th. Finally, Cantor Fitzgerald decreased their price objective on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.83.

Get Our Latest Report on LYFT

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft in the fourth quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in shares of Lyft in the fourth quarter valued at $40,000. Huntington National Bank boosted its stake in shares of Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Lyft in the third quarter valued at $50,000. Finally, Boreal Capital Management LLC purchased a new position in shares of Lyft in the first quarter valued at $31,000. 83.07% of the stock is currently owned by hedge funds and other 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.

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