Insider Selling: Lyft (NASDAQ:LYFT) CAO Sells 4,800 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 4,800 shares of Lyft stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $107,040.00. Following the sale, the chief accounting officer owned 311,909 shares in the company, valued at $6,955,570.70. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded down $0.48 during midday trading on Monday, reaching $22.49. The company had a trading volume of 12,335,967 shares, compared to its average volume of 16,233,710. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The company’s 50 day moving average price is $21.12 and its 200 day moving average price is $17.99. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The stock has a market cap of $8.98 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.28 and a beta of 1.99.

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

Institutional Trading of Lyft

Several hedge funds have recently added to or reduced their stakes in LYFT. Cetera Investment Advisers grew its stake in shares of Lyft by 59.5% during the first quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company’s stock valued at $338,000 after buying an additional 10,619 shares during the last quarter. US Bancorp DE lifted its position in Lyft by 19.9% in the first quarter. US Bancorp DE now owns 49,785 shares of the ride-sharing company’s stock valued at $591,000 after purchasing an additional 8,246 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Lyft by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock worth $115,000 after purchasing an additional 2,871 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Lyft during the 1st quarter valued at about $537,000. Finally, Vanguard Group Inc. lifted its holdings 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 worth $451,645,000 after buying an additional 2,046,639 shares during the period. 83.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYFT. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. UBS Group raised their target price on Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Susquehanna increased their price target on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Finally, BMO Capital Markets increased their price objective on Lyft from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.73.

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.