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

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

Lyft Stock Performance

Shares of LYFT stock opened at $16.77 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a 50-day moving average of $16.05 and a 200-day moving average of $14.55. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The company has a market cap of $6.35 billion, a P/E ratio of 2.44, a P/E/G ratio of 1.04 and a beta of 1.83.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Equities research analysts forecast that Lyft, Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of Lyft

Institutional investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new position in Lyft in the 4th quarter worth approximately $26,000. Plato Investment Management Ltd purchased a new position in Lyft in the 2nd quarter valued at approximately $27,000. Boreal Capital Management LLC bought a new stake in Lyft during the 1st quarter valued at $31,000. Bessemer Group Inc. lifted its position in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Lyft in the fourth quarter worth $40,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a research report on Monday, August 3rd. BTIG Research upgraded Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. Susquehanna reaffirmed a “neutral” rating and set a $18.00 target price on shares of Lyft in a research report on Monday, August 10th. Sanford C. Bernstein initiated coverage on Lyft in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. Finally, UBS Group boosted their price target on shares of Lyft from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.