Lyft (NASDAQ:LYFT) CFO Sells $219,600.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $14.64, for a total transaction of $219,600.00. Following the transaction, the chief financial officer owned 837,303 shares of the company’s stock, valued at approximately $12,258,115.92. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Monday, August 24th, Erin Brewer sold 15,000 shares of Lyft stock. The stock was sold at an average price of $17.63, for a total value of $264,450.00.

Lyft Trading Down 0.1%

Shares of LYFT opened at $14.86 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.63 billion, a PE ratio of 2.16, a PEG ratio of 0.95 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 stock has a 50 day simple moving average of $16.20 and a 200-day simple moving average of $14.82.

Lyft (NASDAQ:LYFT) last announced its quarterly 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the firm earned $0.10 EPS. Lyft’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Lyft, Inc. will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LYFT has been the topic of several analyst reports. Oppenheimer assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They issued an “outperform” rating on the stock. Guggenheim lowered shares of Lyft from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Thursday, September 17th. William Blair lowered shares of Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Lyft in a research note on Tuesday, August 18th. Finally, Sanford C. Bernstein began coverage on shares of Lyft in a report on Wednesday, June 17th. They set an “underperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.10.

Institutional Investors Weigh In On Lyft

Hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new position in shares of Lyft in the 2nd quarter valued at approximately $27,000. Boreal Capital Management LLC acquired a new stake in Lyft during the 1st quarter worth approximately $31,000. Bessemer Group Inc. raised its holdings in Lyft by 1,851.9% during the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 2,500 shares during the period. Huntington National Bank lifted its stake in Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Lyft in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

About Lyft

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.