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 on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the sale, the director owned 119,124 shares in the company, valued at approximately $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Trading Down 4.5%

Shares of NASDAQ LYFT traded down $0.80 during midday trading on Monday, reaching $16.90. 9,882,234 shares of the stock were exchanged, compared to its average volume of 11,171,402. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 2.46, a P/E/G ratio of 1.09 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50-day simple moving average of $15.99 and a two-hundred day simple moving average of $14.53.

Lyft (NASDAQ:LYFT) last released 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 the consensus estimate of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. Lyft’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, equities research analysts expect that Lyft, Inc. will post 0.73 EPS for the current year.

Institutional Trading of Lyft

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Lyft by 7.4% during the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after purchasing an additional 1,773,438 shares during the last quarter. Renaissance Technologies LLC grew its position in Lyft by 15.4% in the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after purchasing an additional 1,320,938 shares in the last quarter. Altshuler Shaham Ltd increased its stake in Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock valued at $101,905,000 after buying an additional 2,607,417 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after buying an additional 2,467,010 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Lyft by 1,333.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock worth $94,108,000 after buying an additional 5,992,016 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on LYFT. JPMorgan Chase & Co. increased their price target on Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Morgan Stanley lifted their price objective on Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Citigroup assumed coverage on Lyft in a research report on Wednesday, June 17th. They issued a “buy” rating for the company. Jefferies Financial Group increased their target price on Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Finally, DA Davidson dropped their target price on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a report on Monday, May 18th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $19.80.

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.