Insider Selling: Lyft (NASDAQ:LYFT) Insider Sells $584,493.96 in Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 36,214 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $16.14, for a total transaction of $584,493.96. Following the transaction, the insider owned 817,517 shares of the company’s stock, valued at $13,194,724.38. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lindsay Catherine Llewellyn also recently made the following trade(s):

• On Monday, June 1st, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00.
• On Tuesday, May 26th, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The stock was sold at an average price of $13.69, for a total transaction of $157,311.79.

Lyft Stock Down 1.5%

Shares of Lyft stock traded down $0.25 during trading hours on Wednesday, reaching $16.48. 11,855,165 shares of the company’s stock were exchanged, compared to its average volume of 15,143,154. The stock has a market cap of $6.26 billion, a P/E ratio of 2.41, a P/E/G ratio of 0.97 and a beta of 1.80. The company has a 50 day moving average of $14.78 and a two-hundred day moving average of $14.56. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $0.01 EPS. Lyft’s revenue was up 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Trading of Lyft

A number of hedge funds have recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Lyft during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in Lyft during the 4th quarter valued at $40,000. Huntington National Bank boosted its position in Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 1,374 shares during the period. Boreal Capital Management LLC bought a new position in Lyft during the first quarter worth $31,000. Finally, Bessemer Group Inc. increased its holdings in shares of Lyft by 1,851.9% in the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after purchasing an additional 2,500 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Tigress Financial reissued a “buy” rating and issued a $28.00 target price on shares of Lyft in a research note on Wednesday, June 24th. Canaccord Genuity Group lowered their target price on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group upped their price target on shares of Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Finally, DA Davidson cut their price target on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research note on Monday, May 18th. Twelve research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $19.43.

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.