Key Points
- Lyft CFO Erin Brewer sold 15,000 shares at an average price of $14.64, generating $219,600. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her direct holdings by 1.76% to 837,303 shares.
- Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year, but earnings of $0.13 per share narrowly missed analysts’ $0.14 estimate.
- Analyst sentiment remains cautious: Lyft has a consensus “Hold” rating and an average price target of $19.10, compared with its reported share price near $14.86.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) CFO Erin Brewer sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $14.64, for a total value of $219,600.00. Following the sale, the chief financial officer directly owned 837,303 shares in the company, valued at $12,258,115.92. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Erin Brewer also recently made the following trade(s):
- On Monday, August 24th, Erin Brewer sold 15,000 shares of Lyft stock. The shares were sold at an average price of $17.63, for a total value of $264,450.00.
Lyft Stock Performance
NASDAQ LYFT opened at $14.86 on Friday. The business has a 50 day moving average price of $16.20 and a 200 day moving average price of $14.81. The company has a market capitalization of $5.63 billion, a P/E ratio of 2.16, a PEG ratio of 0.94 and a beta of 1.83. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59.
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 analysts' consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Sell-side analysts expect that Lyft, Inc. will post 0.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently commented on LYFT. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. UBS Group raised their target price on shares of Lyft from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Roth Capital restated a "buy" rating and set a $25.00 target price (up from $23.00) on shares of Lyft in a research report on Monday, August 10th. BTIG Research reaffirmed a "neutral" rating on shares of Lyft in a report on Friday, September 18th. Finally, Susquehanna reiterated a "neutral" rating and issued a $18.00 price target on shares of Lyft in a research report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.10.
Read Our Latest Report on LYFT
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Lyft in the fourth quarter valued at $109,987,000. Contour Asset Management LLC purchased a new stake in Lyft during the fourth quarter valued at about $75,870,000. Principal Financial Group Inc. increased its stake in 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 acquiring an additional 3,033,333 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Lyft by 51.6% during the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Lyft in the 2nd quarter worth about $36,926,000. 83.07% of the stock is owned by hedge funds and other institutional investors.
Lyft Company Profile
(
Get Free Report)
Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.
In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.
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