Insider Selling: Lyft (NASDAQ:LYFT) Director Sells 96,900 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Prashant Aggarwal sold 96,900 shares of Lyft stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $2,160,870.00. Following the completion of the sale, the director directly owned 874,369 shares of the company’s stock, valued at approximately $19,498,428.70. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Prashant Aggarwal also recently made the following trade(s):

• On Thursday, December 4th, Prashant Aggarwal sold 77,699 shares of Lyft stock. The stock was sold at an average price of $22.30, for a total value of $1,732,687.70.

Lyft Stock Down 2.1%

Shares of LYFT traded down $0.48 during trading hours on Monday, reaching $22.49. The stock had a trading volume of 12,335,967 shares, compared to its average volume of 16,233,710. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The firm has a 50-day simple moving average of $21.12 and a 200 day simple moving average of $17.99. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.28 and a beta of 1.99.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Arete Research set a $20.00 price objective on Lyft and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Roth Capital set a $25.00 price objective on Lyft and gave the company a “buy” rating in a research note on Wednesday, October 29th. Benchmark reissued a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. UBS Group increased their target price on shares of Lyft from $15.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Cantor Fitzgerald increased their price objective on Lyft from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.73.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after acquiring an additional 2,046,639 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Lyft by 7.4% during 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 acquiring an additional 1,773,438 shares during the period. Ameriprise Financial Inc. increased its stake in Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after purchasing an additional 5,178,118 shares during the period. Rakuten Group Inc. bought a new stake in Lyft in the first quarter valued at approximately $130,434,000. Finally, Geode Capital Management LLC lifted its position in Lyft by 0.3% in the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock valued at $104,561,000 after purchasing an additional 20,354 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.