Lyft (NASDAQ:LYFT) Director Sells $241,740.00 in Stock

Lyft, Inc. (NASDAQ:LYFT – Get Free Report) Director Janey Whiteside sold 14,220 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $17.00, for a total transaction of $241,740.00. Following the completion of the sale, the director directly owned 66,184 shares of the company’s stock, valued at $1,125,128. The trade was a 17.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

NASDAQ LYFT opened at $17.13 on Friday. The company has a market cap of $6.50 billion, a PE ratio of 2.49, a P/E/G ratio of 0.98 and a beta of 1.80. The firm’s 50 day moving average price is $15.17 and its 200-day moving average price is $14.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.59. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54.

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Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Sell-side analysts forecast that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Trading of Lyft

A number of institutional investors have recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. acquired a new position in Lyft during the 4th quarter valued at about $26,000. Plato Investment Management Ltd purchased a new stake in Lyft in the second quarter valued at about $27,000. Boreal Capital Management LLC purchased a new stake in shares of Lyft during the first quarter worth about $31,000. Bessemer Group Inc. grew its stake in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Lyft during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Strong operating growth supports the stock. Lyft’s second-quarter gross bookings reached a record $5.50 billion, up 23% year over year, while revenue rose 16% to $1.84 billion and exceeded analyst expectations. The results point to solid rider demand and continued marketplace growth, although earnings per share slightly missed estimates. Lyft Q2 Earnings and Efficiency Outlook
• Positive Sentiment: Analyst sentiment remains supportive. Canaccord Genuity raised its Lyft price target to $16, while recent coverage cited in the reports includes multiple Buy ratings and a consensus target near $19.80. The target increase is modest and below the stock’s recent trading level, but broader analyst views continue to reflect optimism about Lyft’s growth. Canaccord Genuity Raises Lyft Price Target

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research note on Monday, August 3rd. Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, June 17th. Royal Bank Of Canada boosted their target price on shares of Lyft from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. Finally, Truist Financial raised their price target on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average price target of $19.80.

Read Our Latest Research Report on LYFT

About Lyft

(Get Free Report)

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.

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