Lyft (NASDAQ:LYFT) CAO Sells $75,129.60 in Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,460 shares of Lyft stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at approximately $4,615,970.88. This trade represents a 1.60% 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 Stock Performance

LYFT traded up $0.29 during trading hours on Friday, hitting $14.11. The stock had a trading volume of 14,549,438 shares, compared to its average volume of 16,264,120. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The company’s fifty day simple moving average is $13.74 and its 200 day simple moving average is $16.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.36 billion, a PE ratio of 2.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84.

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

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

Analysts Set New Price Targets

Several brokerages have commented on LYFT. Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Canaccord Genuity Group cut their target price on Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Wednesday, February 11th. Jefferies Financial Group cut their target price on Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a research note on Wednesday, February 11th. Finally, Truist Financial raised their target price on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.83.

Institutional Trading of Lyft

A number of large investors have recently modified their holdings of LYFT. Empowered Funds LLC boosted its position in shares of Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after acquiring an additional 2,921 shares during the last quarter. Focus Partners Wealth lifted its position in Lyft by 44.0% in the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after buying an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Lyft in the 2nd quarter worth approximately $470,000. Invesco Ltd. lifted its position in Lyft by 87.5% in the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after buying an additional 497,118 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Lyft by 12.6% in the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after buying an additional 79,634 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

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.