Insider Selling: Lyft (NASDAQ:LYFT) CAO Sells $103,727.88 in Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,982 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $103,727.88. Following the sale, the chief accounting officer directly owned 299,974 shares in the company, valued at $5,201,549.16. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Performance

NASDAQ LYFT opened at $17.35 on Thursday. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. 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 stock has a market capitalization of $6.57 billion, a PE ratio of 2.52, a P/E/G ratio of 1.03 and a beta of 1.83. The company’s 50 day simple moving average is $16.11 and its two-hundred day simple moving average is $14.58.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. Analysts predict that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYFT has been the topic of a number of research analyst reports. Roth Capital restated a “buy” rating and issued a $25.00 target price (up from $23.00) on shares of Lyft in a research note on Monday, August 10th. UBS Group lifted their price target on Lyft from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Citigroup began coverage on Lyft in a report on Wednesday, June 17th. They set a “buy” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a report on Monday, August 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.77.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its position in shares of Lyft by 45.3% during the 2nd quarter. Corient Private Wealth LP now owns 189,497 shares of the ride-sharing company’s stock valued at $2,769,000 after purchasing an additional 59,041 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Lyft during the 2nd quarter valued at about $2,643,000. California State Teachers Retirement System lifted its position in Lyft by 1,333.6% in 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 during the last quarter. Wedmont Private Capital lifted its position in Lyft by 8.2% in the 2nd quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company’s stock worth $201,000 after buying an additional 977 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Lyft in the second quarter worth approximately $195,000. 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.