Insider Selling: Lyft (NASDAQ:LYFT) Director Sells $79,943.29 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director David Lawee sold 4,613 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.33, for a total value of $79,943.29. Following the sale, the director directly owned 119,124 shares in the company, valued at $2,064,418.92. This represents a 3.73% decrease in their ownership of the stock. The sale 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.

Lyft Trading Up 3.5%

Shares of NASDAQ:LYFT opened at $17.35 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $6.57 billion, a PE ratio of 2.52, a PEG ratio of 1.03 and a beta of 1.83. The business has a 50 day moving average of $16.11 and a two-hundred day moving average of $14.58. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

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

Institutional Trading of Lyft

Large investors have recently made changes to their positions in the company. Strs Ohio raised its stake in Lyft by 4,527.6% in the fourth quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after buying an additional 430,888 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Lyft by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock valued at $30,453,000 after purchasing an additional 613,494 shares in the last quarter. West Tower Group LLC increased its stake in Lyft by 207.6% in the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after purchasing an additional 93,432 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new stake in Lyft during the first quarter worth approximately $992,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LYFT. Oppenheimer initiated coverage on Lyft in a research note on Wednesday, June 17th. They issued an “outperform” rating on the stock. Roth Capital reaffirmed a “buy” rating and issued a $25.00 price target (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Wells Fargo & Company upped their target price on Lyft from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Guggenheim restated a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.77.

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.