Lyft (NASDAQ:LYFT) Insider Sells 36,214 Shares

Key Points

• Lyft insider Lindsay Catherine Llewellyn sold 36,214 shares for approximately $584,494 under a pre-arranged Rule 10b5-1 trading plan, reducing her position by 4.24% to 817,517 shares.
• Lyft shares fell 1.5% to $16.48, while the company’s latest quarterly results showed revenue rising 17.2% year over year to $1.65 billion but earnings per share of $0.04 missed the $0.30 consensus estimate.
• Institutional investors own 83.07% of Lyft, and analysts maintain a consensus “Hold” rating with an average price target of $19.43.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) insider Lindsay Catherine Llewellyn sold 36,214 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $16.14, for a total value of $584,493.96. Following the completion of the transaction, the insider directly owned 817,517 shares in the company, valued at $13,194,724.38. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lindsay Catherine Llewellyn also recently made the following trade(s):

• On Monday, June 1st, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The stock was sold at an average price of $15.00, for a total value of $172,365.00.
• On Tuesday, May 26th, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The shares were sold at an average price of $13.69, for a total value of $157,311.79.

Lyft Trading Down 1.5%

Shares of NASDAQ:LYFT traded down $0.25 during mid-day trading on Wednesday, reaching $16.48. The stock had a trading volume of 11,855,165 shares, compared to its average volume of 15,143,154. The firm has a market cap of $6.26 billion, a PE ratio of 2.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.80. The firm has a 50 day simple moving average of $14.78 and a two-hundred day simple moving average of $14.56. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm's revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, research analysts predict that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Lyft by 7.4% in the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company's stock valued at $567,492,000 after purchasing an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC raised its position in Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company's stock valued at $191,245,000 after buying an additional 1,320,938 shares during the last quarter. Altshuler Shaham Ltd raised its position in Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock valued at $101,905,000 after buying an additional 2,607,417 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company's stock valued at $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Finally, Norges Bank acquired a new position in Lyft during the 4th quarter worth approximately $109,987,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on LYFT. Citigroup started coverage on shares of Lyft in a report on Wednesday, June 17th. They issued a "buy" rating for the company. Tigress Financial reiterated a "buy" rating and set a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. Guggenheim restated a "buy" rating on shares of Lyft in a report on Wednesday, June 10th. Morgan Stanley raised their price target on Lyft from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Finally, William Blair cut Lyft to a "market perform" rating in a report on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, Lyft presently has an average rating of "Hold" and an average price target of $19.43.

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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