Lyft (NASDAQ:LYFT) Insider Sells $172,365.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider owned 853,731 shares in the company, valued at approximately $12,805,965. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lindsay Catherine Llewellyn also recently made the following trade(s):

• On Tuesday, May 26th, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The shares were sold at an average price of $13.69, for a total value of $157,311.79.
• On Friday, April 17th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The shares were sold at an average price of $15.00, for a total value of $354,915.00.

Lyft Stock Performance

NASDAQ:LYFT opened at $13.65 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 1.99, a PEG ratio of 0.88 and a beta of 1.82. The business’s fifty day moving average is $13.83 and its 200 day moving average is $16.15.

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

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

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heartland Advisors Inc. boosted its holdings in shares of Lyft by 68.2% in the 3rd quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock worth $13,092,000 after purchasing an additional 241,250 shares in the last quarter. Strs Ohio boosted its holdings in shares of Lyft by 4,527.6% in the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock worth $8,531,000 after purchasing an additional 430,888 shares in the last quarter. Nierenberg Investment Management Company Inc. boosted its holdings in shares of Lyft by 1,811.8% in the 3rd quarter. Nierenberg Investment Management Company Inc. now owns 813,555 shares of the ride-sharing company’s stock worth $17,906,000 after purchasing an additional 771,000 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Lyft by 56.8% in the 3rd quarter. American Century Companies Inc. now owns 1,571,726 shares of the ride-sharing company’s stock worth $34,594,000 after purchasing an additional 569,074 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its holdings in shares of Lyft by 331.4% in the 3rd quarter. Neo Ivy Capital Management now owns 117,646 shares of the ride-sharing company’s stock worth $2,589,000 after purchasing an additional 90,376 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on LYFT shares. Mizuho decreased their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. DA Davidson reduced their target price on Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Jefferies Financial Group reduced their target price on Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a research report on Wednesday, February 11th. Roth Mkm restated a “buy” rating and set a $23.00 target price on shares of Lyft in a research report on Friday, May 8th. Finally, Morgan Stanley set a $17.00 target price on Lyft in a research report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus 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.