Principal Financial Group Inc. Has $358,000 Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Principal Financial Group Inc. trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,728 shares of the ride-sharing company’s stock after selling 1,910 shares during the period. Principal Financial Group Inc.’s holdings in Lyft were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYFT. True Wealth Design LLC bought a new stake in shares of Lyft during the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft in the 4th quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new position in shares of Lyft in the 4th quarter worth approximately $31,000. Byrne Asset Management LLC acquired a new position in shares of Lyft in the 4th quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in Lyft during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity at Lyft

In other news, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of recent research reports. Cantor Fitzgerald decreased their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Roth Capital reissued a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price target on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Wedbush reduced their price target on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Barclays reduced their price target on Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and an average target price of $17.13.

Lyft Stock Performance

NASDAQ LYFT opened at $12.41 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $13.42 and a 200 day simple moving average of $13.76. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 206.83, a PEG ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has authorized a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.