Insider Selling: Lyft (NASDAQ:LYFT) Director Sells $40,003.38 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,307 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $40,003.38. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Up 3.5%

NASDAQ:LYFT opened at $17.35 on Thursday. The firm has a market cap of $6.57 billion, a P/E ratio of 2.52, a P/E/G ratio of 1.03 and a beta of 1.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The firm has a 50-day simple moving average of $16.11 and a two-hundred day simple moving average of $14.58.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm had revenue of $1.84 billion during 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. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts predict that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio lifted its holdings in Lyft by 4,527.6% in the fourth quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after acquiring an additional 430,888 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Lyft by 58.0% during 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 purchasing an additional 2,467,010 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Lyft by 36.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock valued at $30,453,000 after purchasing an additional 613,494 shares during the period. West Tower Group LLC increased its position in shares of Lyft by 207.6% during the 1st quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after purchasing an additional 93,432 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in shares of Lyft during the 1st quarter valued at about $992,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LYFT shares. UBS Group upped their price target on Lyft from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their price objective on Lyft from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Rosenblatt Securities started coverage on Lyft in a research report on Tuesday. They issued a “neutral” rating and a $19.00 target price for the company. DA Davidson lowered their target price on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average target price of $19.77.

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.