Key Points
- Director David Lawee sold 6,578 shares on December 3 at an average price of $22.55 for proceeds of $148,333.90, reducing his holding by 5.92% to 104,460 shares, according to an SEC Form 4 filing.
- Lyft missed quarterly expectations, reporting $0.13 EPS vs. $0.30 expected and $1.69 billion revenue vs. $1.71 billion consensus, while the stock trades around the low-$20s with a 12-month range of $9.66–$25.54.
- Analysts hold a consensus "Hold" rating with a $22.67 average price target, and institutional investors own roughly 83.1% of Lyft's outstanding shares.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director David Lawee sold 6,578 shares of the firm's stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the transaction, the director owned 104,460 shares in the company, valued at $2,355,573. This represents a 5.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Lyft Price Performance
Shares of NASDAQ:LYFT opened at $22.97 on Friday. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 2.24 and a beta of 1.99. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54. The stock's 50 day moving average price is $21.13 and its 200 day moving average price is $17.92.
Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business posted $0.29 earnings per share. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently weighed in on LYFT. Cowen reaffirmed a "buy" rating on shares of Lyft in a research note on Thursday, November 6th. Arete raised shares of Lyft from a "sell" rating to a "neutral" rating and set a $20.00 price target for the company in a report on Wednesday. Wedbush raised their price objective on shares of Lyft from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, November 6th. Zephirin Group boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a "hold" rating in a report on Thursday, November 6th. Finally, TD Cowen increased their target price on shares of Lyft from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.67.
Check Out Our Latest Stock Report on Lyft
Institutional Trading of Lyft
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock valued at $451,645,000 after purchasing an additional 2,046,639 shares in the last quarter. AQR Capital Management LLC lifted its position in Lyft by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company's stock worth $567,492,000 after buying an additional 1,773,438 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after buying an additional 5,178,118 shares during the last quarter. Rakuten Group Inc. bought a new position in shares of Lyft in the 1st quarter valued at about $130,434,000. Finally, Geode Capital Management LLC increased its position in shares of Lyft by 0.3% in the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company's stock valued at $104,561,000 after acquiring an additional 20,354 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.
About Lyft
(
Get Free Report)
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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