Lyft (NASDAQ:LYFT) Insider Sells $354,915.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $354,915.00. Following the completion of the sale, the insider owned 916,022 shares of the company’s stock, valued at $13,740,330. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, February 25th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The stock was sold at an average price of $13.30, for a total transaction of $314,691.30.

Lyft Stock Performance

Shares of Lyft stock traded up $0.33 during trading on Tuesday, hitting $14.75. The stock had a trading volume of 14,785,731 shares, compared to its average volume of 12,799,450. The firm’s fifty day simple moving average is $13.56 and its 200-day simple moving average is $17.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.65 and a quick ratio of 0.65. Lyft, Inc. has a 12 month low of $10.98 and a 12 month high of $25.54.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYFT. University of Texas Texas AM Investment Management Co. bought a new stake in Lyft during the 4th quarter valued at about $26,000. Quent Capital LLC bought a new stake in Lyft during the 3rd quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in Lyft during the 4th quarter valued at about $40,000. Huntington National Bank lifted its holdings in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in Lyft during the 3rd quarter valued at about $50,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYFT. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lyft from $25.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, February 11th. Zacks Research lowered shares of Lyft from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Royal Bank Of Canada lowered their target price on shares of Lyft from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, February 11th. Wells Fargo & Company lowered their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Finally, Susquehanna reiterated a “neutral” rating and set a $15.00 price objective on shares of Lyft in a report on Thursday, February 12th. Nine investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.55.

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.