Lyft (NASDAQ:LYFT) Stock: Insider Erin Brewer Sells 15,000 Shares

Key Points

• Lyft CFO Erin Brewer sold 15,000 shares at an average price of $14.64, generating $219,600, under a pre-arranged Rule 10b5-1 plan. She retained 837,303 shares after the transaction.
• Lyft shares rose 0.7% to $14.86, while the company reported quarterly revenue of $1.84 billion—above estimates—but earnings per share of $0.13 slightly missed expectations.
• Analysts maintain an overall “Hold” rating with an average price target of $19.10; institutional investors own approximately 83.1% of Lyft’s shares.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $14.64, for a total value of $219,600.00. Following the completion of the sale, the chief financial officer owned 837,303 shares of the company's stock, valued at approximately $12,258,115.92. This trade represents a 1.76% decrease in their position. The transaction 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.

Erin Brewer also recently made the following trade(s):

• On Monday, August 24th, Erin Brewer sold 15,000 shares of Lyft stock. The shares were sold at an average price of $17.63, for a total transaction of $264,450.00.

Lyft Stock Up 0.7%

LYFT traded up $0.11 during trading hours on Friday, reaching $14.86. 5,035,971 shares of the stock traded hands, compared to its average volume of 14,262,869. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week 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 company has a market cap of $5.63 billion, a price-to-earnings ratio of 2.16, a PEG ratio of 0.95 and a beta of 1.83. The firm's fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $14.81.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The company's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. As a group, analysts forecast that Lyft, Inc. will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Lyft in a research report on Wednesday, June 17th. They set an "outperform" rating for the company. Bank of America upgraded shares of Lyft from an "underperform" rating to a "buy" rating in a research report on Friday, August 7th. Canaccord Genuity Group boosted their price objective on Lyft from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lyft in a research report on Monday, August 3rd. Finally, Roth Capital reaffirmed a "buy" rating and issued a $25.00 price objective (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.10.

Hedge Funds Weigh In On Lyft

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in Lyft by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company's stock worth $248,000 after buying an additional 681 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Lyft by 1.0% during the 4th quarter. AlphaQuest LLC now owns 89,753 shares of the ride-sharing company's stock valued at $1,739,000 after acquiring an additional 854 shares in the last quarter. Essex Financial Services Inc. raised its position in Lyft by 8.4% in the fourth quarter. Essex Financial Services Inc. now owns 11,238 shares of the ride-sharing company's stock worth $218,000 after purchasing an additional 867 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Lyft by 8.2% in the 2nd quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company's stock valued at $201,000 after purchasing an additional 977 shares during the period. Finally, Horizon Investment Services LLC raised its holdings in shares of Lyft by 6.1% in the 4th quarter. Horizon Investment Services LLC now owns 17,348 shares of the ride-sharing company's stock worth $336,000 after buying an additional 994 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

About Lyft

Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.

In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.

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