Insider Selling: Lyft (NASDAQ:LYFT) CFO Sells $219,600.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $14.64, for a total value of $219,600.00. Following the sale, the chief financial officer owned 837,303 shares in the company, valued at approximately $12,258,115.92. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Erin Brewer also recently made the following trade(s):

• On Monday, August 24th, Erin Brewer sold 15,000 shares of Lyft stock. The stock was sold at an average price of $17.63, for a total transaction of $264,450.00.

Lyft Trading Up 0.7%

LYFT stock traded up $0.11 during trading on Friday, hitting $14.86. The company had a trading volume of 5,035,971 shares, compared to its average volume of 14,262,869. The firm has a 50-day moving average price of $16.22 and a 200-day moving average price of $14.81. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 2.16, a PEG ratio of 0.95 and a beta of 1.83. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 EPS 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 analyst estimates of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.Lyft’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, analysts predict that Lyft, Inc. will post 0.79 earnings per share for the current year.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Lyft during the 2nd quarter worth approximately $27,000. Huntington National Bank grew its position in shares of Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares during the last quarter. Boreal Capital Management LLC acquired a new position in Lyft in the 1st quarter valued at $31,000. Bessemer Group Inc. lifted its holdings in shares of Lyft by 1,851.9% during the first 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, Ascentis Independent Advisors bought a new stake in shares of Lyft in the first quarter valued at about $43,000. 83.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LYFT has been the subject of a number of analyst reports. Susquehanna restated a “neutral” rating and set a $18.00 price objective on shares of Lyft in a report on Monday, August 10th. Wells Fargo & Company boosted their price objective on Lyft from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Rosenblatt Securities began coverage on shares of Lyft in a report on Tuesday, September 1st. They issued a “neutral” rating and a $19.00 price target for the company. Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, June 17th. Finally, Canaccord Genuity Group upped their price objective on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus target price of $19.10.

Lyft Company Profile

Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.

In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.