Lindsay Catherine Llewellyn Sells 11,491 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the transaction, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 26th, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The shares were sold at an average price of $13.69, for a total value of $157,311.79.
• On Friday, April 17th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The shares were sold at an average price of $15.00, for a total value of $354,915.00.

Lyft Trading Up 0.2%

LYFT opened at $14.12 on Friday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 2.06, a P/E/G ratio of 0.88 and a beta of 1.82. The stock’s 50 day moving average price is $13.82 and its 200-day moving average price is $16.17. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. On average, equities analysts forecast that Lyft, Inc. will post 0.66 EPS for the current year.

Lyft declared that its board has approved a share repurchase plan on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the ride-sharing company to reacquire up to 15.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on LYFT shares. Barclays cut their target price on Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating on shares of Lyft in a report on Wednesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Jefferies Financial Group lowered their price target on Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. boosted their price target on Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Lyft has an average rating of “Hold” and a consensus price target of $18.83.

Institutional Trading of Lyft

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Lyft by 47.0% in the first quarter. Parallel Advisors LLC now owns 4,650 shares of the ride-sharing company’s stock valued at $62,000 after purchasing an additional 1,487 shares during the period. Centaurus Financial Inc. lifted its holdings in Lyft by 16.4% during the first quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock worth $812,000 after buying an additional 8,600 shares during the period. Bull Harbor Capital LLC purchased a new stake in Lyft during the first quarter worth $160,000. Altshuler Shaham Ltd lifted its holdings in Lyft by 51.6% during the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after buying an additional 2,607,417 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Lyft by 22.8% during the first quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock worth $5,976,000 after buying an additional 83,412 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.