Lyft, Inc. (NASDAQ:LYFT – Get Free Report) CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $17.63, for a total transaction of $264,450.00. Following the completion of the sale, the chief financial officer owned 852,303 shares of the company’s stock, valued at approximately $15,026,101.89. This represents a 1.73% decrease in their position. The sale was disclosed in a legal filing 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 Friday, June 12th, Erin Brewer sold 15,000 shares of Lyft stock. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00.
Lyft Stock Performance
LYFT stock traded down $0.26 during midday trading on Wednesday, reaching $17.39. 14,066,655 shares of the company were exchanged, compared to its average volume of 11,281,044. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 2.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.80. The business has a 50-day moving average price of $15.81 and a two-hundred day moving average price of $14.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59.
Hedge Funds Weigh In On Lyft
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of 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 purchasing an additional 1,773,438 shares during the last quarter. Renaissance Technologies LLC grew its position in Lyft by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after buying an additional 1,320,938 shares during the period. Altshuler Shaham Ltd increased its stake in shares of Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after buying an additional 2,467,010 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Lyft by 1,333.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock valued at $94,108,000 after purchasing an additional 5,992,016 shares during the period. 83.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LYFT has been the topic of several recent research reports. BTIG Research upgraded Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Wells Fargo & Company upped their price target on Lyft from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, June 17th. Bank of America upgraded shares of Lyft from an “underperform” rating to a “buy” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Lyft in a research report on Tuesday, August 18th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.80.
Check Out Our Latest Research Report on Lyft
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.
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