Stephen Hope Sells 5,284 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,284 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the sale, the chief accounting officer owned 300,570 shares of the company’s stock, valued at $4,156,883.10. This represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Lyft Stock Performance

Shares of LYFT traded down $0.52 on Tuesday, reaching $13.21. 24,647,699 shares of the stock traded hands, compared to its average volume of 20,501,226. The stock’s 50-day moving average price is $16.92 and its 200-day moving average price is $19.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 1.94, a P/E/G ratio of 0.83 and a beta of 1.92. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54.

Lyft declared that its board has approved a share repurchase program on Tuesday, February 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Lyft

Large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in Lyft in the 4th quarter valued at $26,000. Quent Capital LLC acquired a new stake in shares of Lyft in the third quarter valued at $34,000. International Assets Investment Management LLC bought a new position in shares of Lyft in the fourth quarter valued at about $40,000. Huntington National Bank lifted its position in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 1,374 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in Lyft during the 3rd quarter worth about $50,000. 83.07% of the stock is currently owned by institutional investors.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Short-term demand promotions: Lyft is running free rides across the Washington, D.C. area for St. Patrick’s Day and a 50% off promotion in Kansas (code “TRANSJOY”), efforts that could lift near?term ridership and PR. Free Lyft rides offered across DC area for St. Patrick’s Day Lyft offers Kansas riders 50% off
• Neutral Sentiment: Talent movement: A former Lyft product leader (Rob Rekrutiak) was named CPO at GetYourGuide — notable for industry talent flow but not a direct company performance indicator. GetYourGuide Appoints Rob Rekrutiak
• Negative Sentiment: Analyst price target cut: Mizuho lowered its Lyft price target from $16 to $15 and kept a “neutral” rating, trimming upside and potentially weighing on investor sentiment. Mizuho cuts price target on Lyft
• Negative Sentiment: Insider selling: CAO Stephen Hope sold 5,284 shares (~$73k) and director Jill Beggs sold 2,093 shares (~$29k) on Feb. 27; both filings show reduced insider positions. Insider sales can be interpreted as negative near term even though insiders retain large holdings. Stephen Hope Form 4 Jill Beggs Form 4
• Negative Sentiment: Driver safety incidents: Multiple local reports of attacks on Lyft drivers (Cleveland area and other local coverage) may raise concerns about driver safety, retention, insurance and potential regulatory scrutiny — a reputational and cost risk. Lyft driver wants ‘no part of’ Cleveland rider’s drama I-TEAM: Yet another local Lyft driver attacked

Analyst Ratings Changes

Several research analysts recently issued reports on LYFT shares. UBS Group reissued a “neutral” rating on shares of Lyft in a research report on Monday, February 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Wednesday, February 11th. Truist Financial dropped their target price on Lyft from $23.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, February 11th. Sanford C. Bernstein boosted their price target on Lyft from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, November 10th. Finally, BMO Capital Markets upped their price target on Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.63.

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.