Lyft (NASDAQ:LYFT) Director Sells $79,943.29 in Stock

Key Points

• Lyft director David Lawee sold 4,613 shares for approximately $79,943 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 3.73% to 119,124 shares.
• Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year and above estimates, but its $0.13 EPS slightly missed the $0.14 consensus forecast.
• The stock traded at $16.90, while analysts maintained a consensus “Hold” rating with an average price target of $19.80; institutional investors own 83.07% of Lyft’s shares.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director David Lawee sold 4,613 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the sale, the director directly owned 119,124 shares in the company, valued at approximately $2,064,418.92. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

NASDAQ:LYFT traded down $0.80 during trading hours on Monday, reaching $16.90. The company 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 stock has a 50-day moving average of $15.99 and a two-hundred day moving average of $14.53. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The firm has a market capitalization of $6.40 billion, a PE ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80.

Lyft (NASDAQ:LYFT - Get Free Report) last issued 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 net margin of 42.32% and a negative return on equity of 1.20%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. Analysts forecast that Lyft, Inc. will post 0.73 earnings per share for the current year.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in 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 valued at $94,108,000 after buying an additional 5,992,016 shares during the period. Norges Bank bought a new stake in Lyft in the fourth quarter valued at about $109,987,000. Swedbank AB bought a new position in Lyft during the fourth quarter worth about $108,472,000. Contour Asset Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at about $75,870,000. Finally, Principal Financial Group Inc. raised its position in shares of Lyft by 250.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company's stock valued at $56,479,000 after acquiring an additional 3,033,333 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LYFT shares. Bank of America raised Lyft from an "underperform" rating to a "buy" rating in a report on Friday, August 7th. Sanford C. Bernstein assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They set an "underperform" rating on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on shares of Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Finally, Citigroup assumed coverage on shares of Lyft in a research report on Wednesday, June 17th. They set a "buy" rating on the stock. Thirteen analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.

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