Insider Selling: Lyft (NASDAQ:LYFT) Director Sells 2,307 Shares of Stock

Key Points

• Lyft director Jill Beggs sold 2,307 shares at an average price of $17.34, generating approximately $40,003. The sale reduced her holdings by 4.75% and was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Lyft shares fell $0.80 to $16.90 in the latest session. The company recently reported revenue of $1.84 billion, up 16.1% year over year, though quarterly EPS of $0.13 narrowly missed analyst expectations.
• Analysts maintain a consensus “Hold” rating, with a $19.80 average price target; 83.07% of Lyft shares are owned by hedge funds and other institutional investors.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director Jill Beggs sold 2,307 shares of the firm'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 $40,003.38. Following the sale, the director owned 46,238 shares in the company, valued at approximately $801,766.92. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

Shares of LYFT stock traded down $0.80 on Monday, hitting $16.90. 9,882,234 shares of the stock traded hands, compared to its average volume of 11,171,402. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 2.46, a PEG 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 firm has a 50 day simple moving average of $15.99 and a two-hundred day simple moving average of $14.53. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share 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 the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company posted $0.10 EPS. Lyft's revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LYFT has been the topic of several recent research reports. Sanford C. Bernstein began coverage on Lyft in a research report on Wednesday, June 17th. They set an "underperform" rating on the stock. Morgan Stanley increased their price target on shares of Lyft from $17.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Tigress Financial restated a "buy" rating and issued a $28.00 price target on shares of Lyft in a report on Wednesday, June 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lyft in a research note on Monday, August 3rd. Finally, Guggenheim reissued a "buy" rating on shares of Lyft in a research report on Wednesday, June 10th. 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 stock. According to data from MarketBeat, Lyft presently has a consensus rating of "Hold" and a consensus price target of $19.80.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft during the 4th quarter valued at about $26,000. Plato Investment Management Ltd purchased a new position in Lyft during the second quarter valued at approximately $27,000. Boreal Capital Management LLC acquired a new position in Lyft in the first quarter valued at approximately $31,000. Bessemer Group Inc. boosted its position in Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock worth $35,000 after purchasing an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Lyft in the 4th quarter worth approximately $40,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.

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