Key Points
- Lyft insider Lindsay Catherine Llewellyn sold 13,204 shares at an average price of $16.64, generating approximately $219,715. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her holdings by 1.66% to 781,152 shares.
- Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year, but earnings per share of $0.13 slightly missed analysts’ $0.14 estimate.
- Analysts maintain a consensus “Hold” rating with an average price target of $19.77, while institutional investors own 83.07% of Lyft’s outstanding shares.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) insider Lindsay Llewellyn sold 13,204 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $16.64, for a total transaction of $219,714.56. Following the completion of the transaction, the insider directly owned 781,152 shares in the company, valued at approximately $12,998,369.28. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Lindsay Catherine Llewellyn also recently made the following trade(s):
- On Monday, August 3rd, Lindsay Llewellyn sold 36,214 shares of Lyft stock. The shares were sold at an average price of $16.14, for a total value of $584,493.96.
Lyft Price Performance
Lyft stock opened at $17.28 on Friday. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The business has a 50-day simple moving average of $16.18 and a 200 day simple moving average of $14.61. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 2.51, a PEG ratio of 1.07 and a beta of 1.83.
Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Lyft's revenue was up 16.1% compared to the same quarter last year. On average, research analysts forecast that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lyft
Several institutional investors have recently modified their holdings of LYFT. Corient Private Wealth LP increased its position in shares of Lyft by 45.3% during the 2nd quarter. Corient Private Wealth LP now owns 189,497 shares of the ride-sharing company's stock valued at $2,769,000 after purchasing an additional 59,041 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lyft in the 2nd quarter worth approximately $2,643,000. California State Teachers Retirement System boosted its stake 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 worth $94,108,000 after buying an additional 5,992,016 shares in the last quarter. Wedmont Private Capital boosted its stake in Lyft by 8.2% in the second quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company's stock worth $201,000 after buying an additional 977 shares in the last quarter. Finally, Nykredit A S bought a new position in Lyft during the second quarter valued at approximately $195,000. 83.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
LYFT has been the topic of several research analyst reports. Tigress Financial restated a "buy" rating and issued a $28.00 price objective on shares of Lyft in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $17.00 target price on shares of Lyft in a research report on Monday, August 10th. Canaccord Genuity Group boosted their price target on shares of Lyft from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Zacks Research raised shares of Lyft from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $20.00 price target on shares of Lyft in a report on Tuesday, August 18th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.77.
Check Out Our Latest Research Report on LYFT
About Lyft
(
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.
Further Reading
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