Lyft (NASDAQ:LYFT) Insider Lindsay Catherine Llewellyn Sells 23,661 Shares

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $13.30, for a total value of $314,691.30. Following the sale, the insider owned 696,850 shares in the company, valued at approximately $9,268,105. This represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded down $0.26 during midday trading on Friday, reaching $13.84. 15,566,601 shares of the company’s stock traded hands, compared to its average volume of 16,678,688. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The stock has a 50 day moving average of $17.29 and a 200 day moving average of $18.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 2.03, a P/E/G ratio of 0.81 and a beta of 1.93.

Lyft announced that its Board of Directors has approved a stock buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to reacquire up to 15.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its stake in Lyft by 352.7% in the fourth quarter. Virtu Financial LLC now owns 48,530 shares of the ride-sharing company’s stock worth $940,000 after purchasing an additional 37,810 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Lyft by 9.4% during the 4th quarter. Invesco Ltd. now owns 2,724,969 shares of the ride-sharing company’s stock worth $52,783,000 after acquiring an additional 233,179 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Lyft by 324.4% during the 4th quarter. Corient Private Wealth LLC now owns 121,857 shares of the ride-sharing company’s stock valued at $2,360,000 after acquiring an additional 93,146 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Lyft by 10.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 274,844 shares of the ride-sharing company’s stock valued at $5,324,000 after acquiring an additional 26,664 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in Lyft in the fourth quarter worth $217,000. 83.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LYFT shares. Oppenheimer set a $26.00 price objective on Lyft and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Royal Bank Of Canada lowered their target price on shares of Lyft from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, February 11th. Cantor Fitzgerald reduced their target price on Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Canaccord Genuity Group cut their price target on Lyft from $19.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, February 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.66.

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.