Lyft, Inc. (NASDAQ:LYFT) CAO Sells $163,639.62 in Stock

Lyft, Inc. (NASDAQ:LYFT) CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lyft Price Performance

Shares of Lyft stock traded down $0.25 on Tuesday, reaching $18.34. The stock had a trading volume of 13,505,884 shares, compared to its average volume of 15,146,545. The company has a market cap of $7.52 billion, a P/E ratio of -116.19 and a beta of 2.04. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The business’s 50 day moving average is $13.10 and its two-hundred day moving average is $13.51. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. Lyft’s revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, research analysts anticipate that Lyft, Inc. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald increased their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Melius Research initiated coverage on Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $23.00 price target (up from $17.00) on shares of Lyft in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on shares of Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.48.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Lyft by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after purchasing an additional 782,736 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Lyft during the third quarter worth $90,604,000. Primecap Management Co. CA increased its position in shares of Lyft by 3.8% during the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after acquiring an additional 235,510 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Lyft by 1.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after buying an additional 63,461 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after buying an additional 812,926 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.