Lyft (NASDAQ:LYFT) CAO Stephen Hope Sells 5,982 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,982 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.34, for a total transaction of $103,727.88. Following the completion of the transaction, the chief accounting officer owned 299,974 shares of the company’s stock, valued at $5,201,549.16. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Performance

LYFT opened at $16.90 on Tuesday. The business’s 50-day moving average price is $15.99 and its two-hundred day moving average price is $14.53. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 2.46, a P/E/G ratio of 1.09 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Lyft, Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Tigress Financial restated a “buy” rating and set a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. Susquehanna reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Lyft in a research report on Monday, August 10th. Jefferies Financial Group lifted their price target on shares of Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Guggenheim reissued a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.80.

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Lyft during the fourth quarter worth $26,000. Plato Investment Management Ltd acquired a new stake in Lyft in the second quarter valued at $27,000. Boreal Capital Management LLC acquired a new stake in Lyft in the first quarter valued at $31,000. Bessemer Group Inc. grew its position in shares of Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Lyft in the 4th quarter valued at about $40,000. 83.07% of the stock is owned by institutional investors.

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.