Lyft (NASDAQ:LYFT) CAO Sells 5,982 Shares

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,982 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.34, for a total transaction of $103,727.88. Following the completion of the transaction, the chief accounting officer directly owned 299,974 shares of the company’s stock, valued at approximately $5,201,549.16. The trade was a 1.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Trading Down 4.5%

LYFT stock traded down $0.80 during mid-day trading on Monday, reaching $16.90. 9,882,234 shares of the stock traded hands, compared to its average volume of 11,171,402. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $14.53. The stock has a market capitalization of $6.40 billion, a PE ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Lyft during the fourth quarter worth $26,000. Plato Investment Management Ltd acquired a new position in shares of Lyft in the second quarter valued at approximately $27,000. Boreal Capital Management LLC purchased a new stake in Lyft in the 1st quarter valued at approximately $31,000. Bessemer Group Inc. raised its stake in shares of Lyft by 1,851.9% during the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lyft in the 4th quarter valued at approximately $40,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price target on Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. William Blair downgraded Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Susquehanna reaffirmed a “neutral” rating and set a $18.00 target price on shares of Lyft in a research note on Monday, August 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $21.00 target price (up from $20.00) on shares of Lyft in a research report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.80.

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.