Insider Selling: Lyft (NASDAQ:LYFT) CFO Sells 15,000 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the completion of the sale, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Up 0.3%

LYFT traded up $0.04 during midday trading on Tuesday, reaching $14.28. The company’s stock had a trading volume of 14,275,614 shares, compared to its average volume of 15,965,343. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 2.08, a PEG ratio of 0.80 and a beta of 1.82. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The stock’s 50-day moving average is $13.91 and its 200-day moving average is $15.84.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $0.01 EPS. Lyft’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts expect that Lyft, Inc. will post 0.69 EPS for the current year.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in shares of Lyft by 47.0% during the 1st quarter. Parallel Advisors LLC now owns 4,650 shares of the ride-sharing company’s stock worth $62,000 after purchasing an additional 1,487 shares during the period. Centaurus Financial Inc. lifted its holdings in Lyft by 16.4% during the 1st quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock valued at $812,000 after buying an additional 8,600 shares in the last quarter. Bull Harbor Capital LLC bought a new stake in Lyft during the 1st quarter valued at about $160,000. Altshuler Shaham Ltd lifted its holdings in Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock valued at $101,905,000 after buying an additional 2,607,417 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Lyft by 22.8% in the 1st quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock valued at $5,976,000 after purchasing an additional 83,412 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYFT has been the topic of several research reports. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Canaccord Genuity Group decreased their price target on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Truist Financial increased their price target on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Guggenheim reiterated a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus price target of $18.83.

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.