Lyft (NASDAQ:LYFT) Insider Lindsay Catherine Llewellyn Sells 11,491 Shares

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the sale, the insider owned 853,731 shares in the company, valued at approximately $12,805,965. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Tuesday, May 26th, Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock. The shares were sold at an average price of $13.69, for a total transaction of $157,311.79.
• On Friday, April 17th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The stock was sold at an average price of $15.00, for a total value of $354,915.00.

Lyft Stock Performance

Lyft stock opened at $14.09 on Thursday. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.35 billion, a P/E ratio of 2.06, a PEG ratio of 0.88 and a beta of 1.82. The stock’s 50 day moving average is $13.80 and its 200 day moving average is $16.23.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. On average, equities research analysts predict that Lyft, Inc. will post 0.66 earnings per share for the current fiscal year.

Lyft announced that its board has approved a share repurchase program on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares during the period. Focus Partners Wealth raised its holdings in shares of Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after purchasing an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Lyft during the second quarter valued at approximately $470,000. Invesco Ltd. lifted its position in Lyft by 87.5% during the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after purchasing an additional 497,118 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Lyft by 12.6% in the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after purchasing an additional 79,634 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Roth Mkm restated a “buy” rating and set a $23.00 price objective on shares of Lyft in a research note on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Lyft in a report on Wednesday, February 11th. Wells Fargo & Company dropped their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada cut their price target on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and an average target price of $18.83.

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.