Lyft (NASDAQ:LYFT) CFO Erin Brewer Sells 15,000 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $17.63, for a total transaction of $264,450.00. Following the sale, the chief financial officer owned 852,303 shares in the company, valued at $15,026,101.89. This represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 12th, Erin Brewer sold 15,000 shares of Lyft stock. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00.

Lyft Stock Performance

Shares of Lyft stock opened at $17.39 on Thursday. The business has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $14.51. The stock has a market cap of $6.58 billion, a PE ratio of 2.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.80. 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, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last issued its earnings results 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 business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. Lyft’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $21.00 price target (up from $20.00) on shares of Lyft in a report on Friday, August 7th. Roth Capital restated a “buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. Tigress Financial reiterated a “buy” rating and issued a $28.00 target price on shares of Lyft in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.80.

Hedge Funds Weigh In On Lyft

Several large investors have recently made changes to their positions in LYFT. Brown Brothers Harriman & Co. lifted its stake in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after acquiring an additional 639 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock worth $248,000 after acquiring an additional 681 shares in the last quarter. Allegiance Financial Group Advisory Services LLC raised its holdings in shares of Lyft by 4.3% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Lyft by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after purchasing an additional 771 shares during the last quarter. Finally, AlphaQuest LLC grew its position in Lyft by 1.0% in the fourth quarter. AlphaQuest LLC now owns 89,753 shares of the ride-sharing company’s stock valued at $1,739,000 after purchasing an additional 854 shares in the last quarter. Institutional investors and hedge funds 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.