Key Points
- Lyft CFO Erin Brewer sold 15,000 shares at an average price of $17.63, generating $264,450. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced her holdings by 1.73% to 852,303 shares.
- Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year and above estimates, but earnings per share of $0.13 slightly missed the $0.14 consensus forecast.
- Analysts maintain a consensus “Hold” rating with an average price target of $19.80, compared with shares opening at $17.39. Institutional investors own 83.07% of the company.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $17.63, for a total value of $264,450.00. Following the completion of the sale, the chief financial officer owned 852,303 shares in the company, valued at approximately $15,026,101.89. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Erin Brewer also recently made the following trade(s):
- On Friday, June 12th, Erin Brewer sold 15,000 shares of Lyft stock. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00.
Lyft Stock Performance
Shares of LYFT stock opened at $17.39 on Thursday. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 2.53, a PEG ratio of 1.08 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a 50-day simple moving average of $15.81 and a 200 day simple moving average of $14.51.
Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company posted $0.10 EPS. Lyft's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Lyft, Inc. will post 0.73 earnings per share for the current year.
Institutional Trading of Lyft
Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Lyft by 1,333.6% in the second quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company's stock valued at $94,108,000 after acquiring an additional 5,992,016 shares during the last quarter. Norges Bank acquired a new position in shares of Lyft in the 4th quarter worth approximately $109,987,000. Swedbank AB bought a new stake in shares of Lyft in the 4th quarter valued at $108,472,000. Contour Asset Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at $75,870,000. Finally, Principal Financial Group Inc. increased its position in shares of Lyft by 250.0% during the first quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company's stock worth $56,479,000 after buying an additional 3,033,333 shares during the period. 83.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
LYFT has been the topic of several recent research reports. Tigress Financial reaffirmed a "buy" rating and set a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. UBS Group lifted their price objective on Lyft from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Oppenheimer started coverage on Lyft in a research report on Wednesday, June 17th. They set an "outperform" rating for the company. Finally, Citigroup began coverage on Lyft in a report on Wednesday, June 17th. They set a "buy" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and an average target price of $19.80.
Read Our Latest Stock Analysis on LYFT
Lyft Company Profile
(
Get Free Report)
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.
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