Lyft (NASDAQ:LYFT) CAO Stephen Hope Sells 5,460 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,460 shares of Lyft stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the transaction, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Performance

Shares of Lyft stock opened at $14.11 on Friday. The firm’s fifty day simple moving average is $13.74 and its 200-day simple moving average is $16.49. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.86 and a beta of 1.84. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

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

Lyft declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. grew its stake in shares of Lyft by 16.4% during the 1st quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock worth $812,000 after purchasing an additional 8,600 shares during the period. Bull Harbor Capital LLC acquired a new position in shares of Lyft during the 1st quarter worth $160,000. Altshuler Shaham Ltd grew its stake in shares of Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after purchasing an additional 2,607,417 shares during the period. California State Teachers Retirement System grew its stake in shares of Lyft by 22.8% during the 1st quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock worth $5,976,000 after purchasing an additional 83,412 shares during the period. Finally, Readystate Asset Management LP grew its stake in shares of Lyft by 45.1% during the 1st quarter. Readystate Asset Management LP now owns 231,292 shares of the ride-sharing company’s stock worth $3,076,000 after purchasing an additional 71,892 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Truist Financial boosted their price target on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Lyft in a research note on Wednesday, February 11th. KeyCorp reissued a “sector weight” rating on shares of Lyft in a research note on Wednesday, February 11th. Finally, Piper Sandler reissued an “overweight” rating on shares of Lyft in a research note on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft presently has an average rating of “Hold” and an average price target of $18.83.

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.