Stephen Hope Sells 4,800 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $107,040.00. Following the completion of the sale, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.48 during mid-day trading on Monday, reaching $22.49. 12,335,967 shares of the company were exchanged, compared to its average volume of 16,233,710. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $25.54. The stock has a market capitalization of $8.98 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.28 and a beta of 1.99. The company’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $17.99. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share 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 previous year, the business earned $0.29 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after purchasing an additional 2,046,639 shares in the last quarter. AQR Capital Management LLC lifted its stake in Lyft by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after acquiring an additional 1,773,438 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after acquiring an additional 5,178,118 shares in the last quarter. Rakuten Group Inc. purchased a new position in Lyft during the 1st quarter worth $130,434,000. Finally, Geode Capital Management LLC grew its stake in shares of Lyft by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after acquiring an additional 20,354 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LYFT shares. BMO Capital Markets increased their target price on shares of Lyft from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. TD Cowen upped their price target on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Barclays raised their price objective on Lyft from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Royal Bank Of Canada upped their target price on Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company lifted their price target on Lyft from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.73.

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.