Insider Selling: Lyft (NASDAQ:LYFT) CAO Sells 5,982 Shares

Key Points

• Lyft CAO Stephen Hope sold 5,982 shares for approximately $103,728 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 1.96% to 299,974 shares.
• Lyft shares fell 4.5% to $16.90, although the company’s latest quarterly revenue rose 16.1% year over year to $1.84 billion; EPS of $0.13 narrowly missed analyst expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $19.80. Institutional investors own 83.07% of Lyft’s outstanding shares.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CAO Stephen Hope sold 5,982 shares of the business'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 value of $103,727.88. Following the sale, the chief accounting officer directly owned 299,974 shares of the company's stock, valued at $5,201,549.16. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Down 4.5%

LYFT stock traded down $0.80 during trading on Monday, reaching $16.90. The stock had a trading volume of 9,882,234 shares, compared to its average volume of 11,171,402. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. 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. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The company's 50 day moving average is $15.99 and its two-hundred day moving average is $14.53.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the business posted $0.10 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts forecast that Lyft, Inc. will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Lyft

Large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its stake in shares of Lyft by 45.3% during the second quarter. Corient Private Wealth LP now owns 189,497 shares of the ride-sharing company's stock valued at $2,769,000 after buying an additional 59,041 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Lyft in the 2nd quarter worth $2,643,000. California State Teachers Retirement System grew its holdings in shares of Lyft by 1,333.6% in the second quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company's stock worth $94,108,000 after acquiring an additional 5,992,016 shares during the period. Wedmont Private Capital lifted its holdings in Lyft by 8.2% in the second quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company's stock valued at $201,000 after acquiring an additional 977 shares during the period. Finally, Nykredit A S purchased a new position in Lyft in the second quarter worth about $195,000. Institutional investors own 83.07% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LYFT. Rothschild & Co Redburn upgraded Lyft from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a research report on Wednesday, June 17th. Wells Fargo & Company lifted their target price on Lyft from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Piper Sandler reiterated an "overweight" rating and set a $21.00 price target (up from $20.00) on shares of Lyft in a research report on Friday, August 7th. Citigroup began coverage on shares of Lyft in a report on Wednesday, June 17th. They issued a "buy" rating on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lyft has an average rating of "Hold" and a consensus price target of $19.80.

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.

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