Lyft (NASDAQ:LYFT) Director Jill Beggs Sells 2,307 Shares

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,307 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.34, for a total value of $40,003.38. Following the transaction, the director directly owned 46,238 shares in the company, valued at approximately $801,766.92. This represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Down 4.5%

Shares of LYFT stock opened at $16.90 on Tuesday. The stock’s 50 day simple moving average is $15.99 and its 200 day simple moving average is $14.53. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80.

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

Analysts Set New Price Targets

Several research firms recently issued reports on LYFT. Truist Financial upped their price objective on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Zacks Research raised shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Morgan Stanley upped their price target on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Roth Capital reiterated a “buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Lyft in a research note on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus target price of $19.80.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYFT. Strs Ohio lifted its position in shares of Lyft by 4,527.6% in the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock worth $8,531,000 after acquiring an additional 430,888 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Lyft by 58.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after purchasing an additional 2,467,010 shares during the period. Bank of New York Mellon Corp increased its position in shares of Lyft by 36.6% during the first quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock valued at $30,453,000 after purchasing an additional 613,494 shares during the period. West Tower Group LLC raised its stake in shares of Lyft by 207.6% in the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after purchasing an additional 93,432 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new position in shares of Lyft in the first quarter valued at $992,000. 83.07% of the stock is currently owned by institutional investors.

About Lyft

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.