Insider Selling: Lyft (NASDAQ:LYFT) Director Sells 2,307 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,307 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.34, for a total value of $40,003.38. Following the sale, the director owned 46,238 shares in the company, valued at $801,766.92. This trade represents a 4.75% decrease in their ownership of the stock. The transaction 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 Price Performance

LYFT stock traded down $0.80 during mid-day trading on Monday, reaching $16.90. 9,882,234 shares of the company’s stock were exchanged, compared to its average volume of 11,171,402. The stock’s 50 day moving average is $15.99 and its 200 day moving average is $14.53. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 2.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. On average, research analysts expect that Lyft, Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Lyft from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Oppenheimer started coverage on Lyft in a report on Wednesday, June 17th. They issued an “outperform” rating for the company. William Blair cut shares of Lyft to a “market perform” rating in a report on Wednesday, June 17th. Tigress Financial restated a “buy” rating and issued a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. Finally, Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.80.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Lyft in the fourth quarter valued at about $26,000. Plato Investment Management Ltd purchased a new stake in Lyft in the 2nd quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new position in Lyft in the fourth quarter worth $40,000. Huntington National Bank raised its holdings in Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Boreal Capital Management LLC purchased a new stake in Lyft during the first quarter worth $31,000. 83.07% of the stock is owned by institutional investors and hedge funds.

About Lyft

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.