Lyft (NASDAQ:LYFT) Director Jill Beggs Sells 1,466 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,466 shares of Lyft stock in a transaction on Friday, November 28th. The stock was sold at an average price of $20.25, for a total transaction of $29,686.50. Following the sale, the director owned 34,278 shares in the company, valued at $694,129.50. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lyft Stock Performance

NASDAQ LYFT opened at $22.24 on Wednesday. The company has a fifty day moving average of $21.08 and a two-hundred day moving average of $17.81. The company has a market capitalization of $8.88 billion, a PE ratio of 58.53, a P/E/G ratio of 2.13 and a beta of 1.99. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Lyft

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after purchasing an additional 2,046,639 shares during the period. AQR Capital Management LLC raised its stake 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 buying an additional 1,773,438 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after buying an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in shares of Lyft in the first quarter valued at approximately $130,434,000. Finally, Geode Capital Management LLC grew its holdings in Lyft by 0.3% during the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after acquiring an additional 20,354 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LYFT shares. Cantor Fitzgerald raised their target price on shares of Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. TD Cowen increased their price target on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Canaccord Genuity Group raised their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Finally, Susquehanna increased their target price on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lyft currently has an average rating of “Hold” and an average price target of $22.76.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.