Lyft, Inc. (NASDAQ:LYFT) Director Sells $119,953.26 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the sale, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lyft Stock Performance

Shares of NASDAQ:LYFT opened at $11.67 on Friday. The firm has a 50 day simple moving average of $12.08 and a 200 day simple moving average of $15.19. Lyft, Inc. has a 52 week low of $8.85 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. Research analysts forecast that Lyft, Inc. will post -0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LYFT. Loop Capital upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, June 7th. Fox Advisors upgraded Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Friday, June 7th. Citigroup cut their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Susquehanna lowered their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twenty-five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.87.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. lifted its position in shares of Lyft by 40.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock worth $473,000 after purchasing an additional 9,731 shares in the last quarter. Quarry LP lifted its position in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares in the last quarter. Algert Global LLC grew its holdings in shares of Lyft by 92.0% during the 2nd quarter. Algert Global LLC now owns 213,039 shares of the ride-sharing company’s stock valued at $3,004,000 after acquiring an additional 102,109 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lyft in the second quarter worth $3,349,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Lyft during the second quarter worth $686,000. 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.