Lyft (NASDAQ:LYFT) Director Sells $96,886.40 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Janey Whiteside sold 5,480 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $17.68, for a total value of $96,886.40. Following the transaction, the director owned 60,704 shares of the company’s stock, valued at approximately $1,073,246.72. The trade was a 8.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Janey Whiteside also recently made the following trade(s):

• On Friday, August 7th, Janey Whiteside sold 14,220 shares of Lyft stock. The shares were sold at an average price of $17.00, for a total transaction of $241,740.00.

Lyft Stock Up 2.0%

Shares of NASDAQ LYFT opened at $17.70 on Friday. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 2.57, a PEG ratio of 1.09 and a beta of 1.80. The stock has a 50 day moving average price of $15.94 and a 200 day moving average price of $14.54. 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 (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). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Sell-side analysts expect that Lyft, Inc. will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Lyft by 1,333.6% in the 2nd quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock worth $94,108,000 after purchasing an additional 5,992,016 shares in the last quarter. Norges Bank purchased a new stake in Lyft in the 4th quarter valued at $109,987,000. Swedbank AB purchased a new stake in Lyft in the 4th quarter valued at $108,472,000. Contour Asset Management LLC acquired a new stake in shares of Lyft in the 4th quarter worth $75,870,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Lyft by 250.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock worth $56,479,000 after acquiring an additional 3,033,333 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Lyft in a research note on Tuesday, August 18th. Guggenheim reaffirmed a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group upped their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Thirteen research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.80.

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.