Erin Brewer Sells 15,000 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares of the company’s stock, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Up 0.3%

Shares of NASDAQ LYFT traded up $0.04 during trading hours on Tuesday, hitting $14.28. 14,275,614 shares of the stock were exchanged, compared to its average volume of 15,965,343. 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 cap of $5.42 billion, a PE ratio of 2.08, a PEG ratio of 0.80 and a beta of 1.82. The firm has a fifty day moving average price of $13.91 and a 200-day moving average price of $15.84. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LYFT. DA Davidson reduced their price objective on Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research note on Monday, May 18th. Canaccord Genuity Group lowered their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. Royal Bank Of Canada decreased their price objective 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. Finally, Oppenheimer set a $20.00 price objective on shares of Lyft in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.83.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. Heartland Advisors Inc. grew its holdings in shares of Lyft by 68.2% in the third quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock valued at $13,092,000 after purchasing an additional 241,250 shares in the last quarter. Strs Ohio grew its holdings in Lyft by 4,527.6% during the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock worth $8,531,000 after acquiring an additional 430,888 shares in the last quarter. Nierenberg Investment Management Company Inc. lifted its position in shares of Lyft by 1,811.8% during the 3rd quarter. Nierenberg Investment Management Company Inc. now owns 813,555 shares of the ride-sharing company’s stock worth $17,906,000 after buying an additional 771,000 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Lyft by 56.8% during the 3rd quarter. American Century Companies Inc. now owns 1,571,726 shares of the ride-sharing company’s stock worth $34,594,000 after buying an additional 569,074 shares during the last quarter. Finally, Towle & Co. purchased a new stake in shares of Lyft during the 3rd quarter worth approximately $12,024,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.