Lyft, Inc. (NASDAQ:LYFT) Insider Sells $75,337.92 in Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, September 12th, Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00.
• On Tuesday, August 27th, Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36.

Lyft Price Performance

LYFT stock opened at $17.92 on Friday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a 50-day moving average of $13.36 and a 200 day moving average of $13.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Lyft during the first quarter valued at approximately $41,000. True Wealth Design LLC bought a new position in shares of Lyft during the third quarter valued at approximately $27,000. Brown Brothers Harriman & Co. bought a new position in shares of Lyft during the second quarter valued at approximately $35,000. International Assets Investment Management LLC bought a new position in shares of Lyft during the second quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Lyft during the third quarter valued at approximately $38,000. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald boosted their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Wedbush restated a “neutral” rating and set a $20.00 price target (up from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.48.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.