Erin Brewer Sells 15,000 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Monday, August 24th. The stock was sold at an average price of $17.63, for a total transaction of $264,450.00. Following the transaction, the chief financial officer directly owned 852,303 shares in the company, valued at $15,026,101.89. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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

Shares of LYFT stock opened at $17.35 on Friday. The firm has a 50-day moving average of $15.87 and a 200-day moving average of $14.52. The company has a market cap of $6.57 billion, a P/E ratio of 2.52, a P/E/G ratio of 1.07 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts forecast that Lyft, Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Lyft

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after purchasing an additional 2,921 shares during the period. Focus Partners Wealth lifted its position in shares of Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after buying an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Lyft during the 2nd quarter valued at $470,000. Invesco Ltd. grew its stake in shares of Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after acquiring an additional 497,118 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after acquiring an additional 79,634 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LYFT. 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. William Blair lowered Lyft to a “market perform” rating in a report on Wednesday, June 17th. Jefferies Financial Group lifted their price target on Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Cantor Fitzgerald boosted their price objective on Lyft from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, BTIG Research upgraded Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. Thirteen analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.80.

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.