Lyft CEO David Risher Makes $100,000 Insider Stock Purchase

Lyft CEO David Risher bought 5,926 shares of common stock on Sept. 3, more than three months after his most recent purchase. (Michaela Vatcheva/Bloomberg)

Lyft’s chief executive bought several thousand shares of the ride-hailing company last week, according to a securities filing.

CEO David Risher, who also serves as director of the board, purchased 5,926 shares of common stock for about $100,000 on Sept. 3, at a weighted average price of $16.875 apiece, according to a Form 4 filed with the U.S. Securities and Exchange Commission.

The transaction brought Risher’s total holdings to 11,797,266 shares, largely comprised of unvested performance-based restricted stock. At the current share price, Risher’s holdings are worth around $224 million. Lyft stock has gained more than 12% since Sept. 3, and is up 47% this year.

In a statement to Barron’s, Lyft noted that the CEO had purchased $2.1 million of company shares to date, “a strong testament to his belief in what Lyft can achieve.”

The last time Risher bought company stock was on May 29, when he snapped up 6,538 shares for $15.29 each. Earlier that month, Lyft shares surged by double digits in percent terms when the ride-hailing company issued a second-quarter outlook that outshone a mixed first-quarter print.

The stock didn’t have the same reaction to Lyft’s most recent earnings report in August. Shares slumped as key metrics like revenue, gross bookings, and total rides came in short of analysts’ expectations.

Risher joined the company as a board member in 2021 and became CEO two years later. Under his supervision, Lyft achieved its first year of profitability under generally accepted accounting principles in 2024.

The company faces stiff competition from Uber Technologies and has been slow to break into the market for autonomous vehicles, which many analysts see as the next frontier for ride-sharing platforms. On Wednesday, Lyft said it was adding self-driving robo-taxis to its Atlanta fleet, three months after Uber made a similar move.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com