Lyft (NASDAQ:LYFT) Director David Lawee Sells 6,578 Shares

Lyft, Inc. (NASDAQ:LYFT) Director David Lawee sold 6,578 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total value of $148,333.90. Following the sale, the director owned 104,460 shares of the company’s stock, valued at $2,355,573. This represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lyft Price Performance

LYFT stock opened at $22.97 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The stock’s 50 day moving average is $21.13 and its two-hundred day moving average is $17.92. The company has a market capitalization of $9.17 billion, a PE ratio of 60.45, a P/E/G ratio of 2.24 and a beta of 1.99. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. Cetera Investment Advisers grew its holdings in Lyft by 59.5% in the 1st quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company’s stock worth $338,000 after buying an additional 10,619 shares in the last quarter. US Bancorp DE boosted its position in Lyft by 19.9% during the 1st quarter. US Bancorp DE now owns 49,785 shares of the ride-sharing company’s stock worth $591,000 after acquiring an additional 8,246 shares during the period. PNC Financial Services Group Inc. boosted its position in Lyft by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock worth $115,000 after acquiring an additional 2,871 shares during the period. Blair William & Co. IL bought a new position in shares of Lyft in the first quarter worth $537,000. Finally, Vanguard Group Inc. increased its holdings in shares of Lyft by 5.7% during the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after purchasing an additional 2,046,639 shares during the period. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LYFT shares. Benchmark reiterated a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. Morgan Stanley raised their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Evercore ISI upped their target price on Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a report on Thursday, November 6th. Jefferies Financial Group increased their price target on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Finally, DA Davidson set a $22.00 price objective on Lyft in a research report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus target price of $22.67.

Lyft Company Profile

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.