Lyft (NASDAQ:LYFT) Director David Lawee Sells 4,613 Shares

Lyft, Inc. (NASDAQ:LYFT) Director David Lawee sold 4,613 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the transaction, the director owned 119,124 shares in the company, valued at $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

Shares of Lyft stock opened at $16.90 on Tuesday. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. 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 company has a 50-day simple moving average of $15.99 and a two-hundred day simple moving average of $14.53. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 2.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted 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 business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts forecast that Lyft, Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LYFT shares. William Blair downgraded Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Sanford C. Bernstein assumed coverage on Lyft in a research report on Wednesday, June 17th. They set an “underperform” rating for the company. Jefferies Financial Group boosted their price target on Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a research note on Tuesday, July 14th. DA Davidson reduced their price objective 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, BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a report on Wednesday, June 17th. Thirteen analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of Lyft by 7.4% in the 3rd 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 increased its position in Lyft by 15.4% during the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock worth $191,245,000 after purchasing an additional 1,320,938 shares in the last quarter. Altshuler Shaham Ltd lifted its stake 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 purchasing an additional 2,607,417 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after buying an additional 2,467,010 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Lyft by 1,333.6% during the second quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock worth $94,108,000 after buying an additional 5,992,016 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

About Lyft

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.