Insider Selling: Lyft (NASDAQ:LYFT) Director Sells 1,466 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 1,466 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $20.25, for a total value of $29,686.50. Following the transaction, the director owned 34,278 shares of the company’s stock, valued at $694,129.50. This represents a 4.10% 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 Stock Performance

NASDAQ LYFT traded up $0.80 during trading hours on Tuesday, hitting $22.24. The company had a trading volume of 13,013,482 shares, compared to its average volume of 18,710,068. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The firm has a market cap of $8.88 billion, a P/E ratio of 58.53, a price-to-earnings-growth ratio of 2.09 and a beta of 1.99. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The business has a fifty day simple moving average of $21.08 and a 200-day simple moving average of $17.81.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LYFT shares. The Goldman Sachs Group raised their price target on shares of Lyft from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their target price on Lyft from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Benchmark reissued a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. Oppenheimer set a $26.00 price target on Lyft and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Morgan Stanley upped their price objective on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.85.

Institutional Trading of Lyft

Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in Lyft by 59.5% during the first quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company’s stock worth $338,000 after acquiring an additional 10,619 shares during the period. HB Wealth Management LLC bought a new position in shares of Lyft during the 1st quarter valued at about $147,000. XTX Topco Ltd grew its stake in shares of Lyft by 3.3% in the 1st quarter. XTX Topco Ltd now owns 49,375 shares of the ride-sharing company’s stock worth $586,000 after purchasing an additional 1,584 shares during the last quarter. US Bancorp DE raised its holdings in shares of Lyft by 19.9% in the 1st quarter. US Bancorp DE now owns 49,785 shares of the ride-sharing company’s stock worth $591,000 after purchasing an additional 8,246 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Lyft by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 2,871 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

About Lyft

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.