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

by · The Markets Daily

Lyft, Inc. (NASDAQ:LYFT – Get Free Report) CFO Erin Brewer sold 15,000 shares of the business’s 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 completion of the sale, the chief financial officer owned 852,303 shares in the company, valued at approximately $15,026,101.89. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $13.59, for a total transaction of $203,850.00.

Lyft Price Performance

Shares of Lyft stock traded down $0.26 during trading on Wednesday, reaching $17.39. 14,066,655 shares of the stock traded hands, compared to its average volume of 11,281,044. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $14.51. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 2.53, a P/E/G ratio of 1.08 and a beta of 1.80.

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

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent research reports. Zacks Research raised shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Cantor Fitzgerald increased their price objective on shares of Lyft from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Citigroup assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They issued a “buy” rating for the company. Guggenheim reiterated a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $17.00 target price on shares of Lyft in a report on Monday, August 10th. Thirteen analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.80.

Get Our Latest Research Report on Lyft

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strs Ohio increased its position in shares of Lyft by 4,527.6% in the fourth quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after acquiring an additional 430,888 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $89,360,000 after purchasing an additional 2,467,010 shares during the period. Bank of New York Mellon Corp increased its position in 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 worth $30,453,000 after buying an additional 613,494 shares during the last quarter. West Tower Group LLC raised its stake in 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 buying an additional 93,432 shares during the period. Finally, OP Asset Management Ltd bought a new position in shares of Lyft during the 1st quarter worth approximately $992,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

About Lyft

(Get Free Report)

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.

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