Insider Selling: Lyft (NASDAQ:LYFT) Insider Sells 11,491 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $13.69, for a total value of $157,311.79. Following the completion of the sale, the insider owned 865,222 shares of the company’s stock, valued at $11,844,889.18. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Friday, April 17th, Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock. The shares were sold at an average price of $15.00, for a total transaction of $354,915.00.

Lyft Stock Up 0.9%

Shares of NASDAQ:LYFT traded up $0.12 during trading hours on Thursday, hitting $13.82. The company’s stock had a trading volume of 10,387,338 shares, compared to its average volume of 15,607,682. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 2.02, a P/E/G ratio of 0.85 and a beta of 1.84. The firm’s fifty day moving average price is $13.73 and its 200 day moving average price is $16.51.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, research analysts expect that Lyft, Inc. will post 0.66 EPS for the current year.

Lyft declared that its Board of Directors has approved a share buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to purchase up to 15.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. TD Cowen reiterated a “buy” rating on shares of Lyft in a report on Wednesday, February 11th. Mizuho reduced their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Guggenheim reduced their target price on shares of Lyft from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Eight investment 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. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $18.83.

Institutional Trading of Lyft

Several large investors have recently bought and sold shares of LYFT. Empowered Funds LLC grew its position in Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after purchasing an additional 2,921 shares during the last quarter. Focus Partners Wealth grew its position in Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after purchasing an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Lyft during the 2nd quarter worth approximately $470,000. Invesco Ltd. grew its position in Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after purchasing an additional 497,118 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after purchasing an additional 79,634 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

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.