Lyft (NASDAQ:LYFT) CAO Sells $75,129.60 in Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Stephen Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer owned 335,463 shares in the company, valued at approximately $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $14.11 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $13.74 and its two-hundred day simple moving average is $16.44. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The stock has a market cap of $5.36 billion, a PE ratio of 2.06, a price-to-earnings-growth ratio of 0.88 and a beta of 1.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $0.01 earnings per share. Lyft’s revenue was up 17.2% on a year-over-year basis. As a group, analysts forecast that Lyft, Inc. will post 0.66 EPS for the current fiscal year.

Lyft declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LYFT shares. Mizuho decreased their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research report on Wednesday, February 11th. Jefferies Financial Group decreased their target price on Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Lyft in a research report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.83.

Institutional Investors Weigh In On Lyft

Several large investors have recently made changes to their positions in the business. Centaurus Financial Inc. increased its holdings in Lyft by 16.4% in the 1st quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock worth $812,000 after acquiring an additional 8,600 shares during the last quarter. Bull Harbor Capital LLC purchased a new stake in Lyft in the 1st quarter worth about $160,000. Altshuler Shaham Ltd increased its holdings in 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 acquiring an additional 2,607,417 shares during the last quarter. California State Teachers Retirement System boosted its position in Lyft by 22.8% during the first quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock worth $5,976,000 after purchasing an additional 83,412 shares during the period. Finally, Readystate Asset Management LP boosted its position in Lyft by 45.1% during the first quarter. Readystate Asset Management LP now owns 231,292 shares of the ride-sharing company’s stock worth $3,076,000 after purchasing an additional 71,892 shares during the period. 83.07% of the stock is owned by hedge funds and other 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.