Insider Selling: Lyft, Inc. (NASDAQ:LYFT) President Sells 6,500 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total value of $101,010.00. Following the transaction, the president now directly owns 64,278 shares in the company, valued at $998,880.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kristin Sverchek also recently made the following trade(s):

• On Friday, May 3rd, Kristin Sverchek sold 3,500 shares of Lyft stock. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00.
• On Thursday, March 21st, Kristin Sverchek sold 16,000 shares of Lyft stock. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00.
• On Monday, March 4th, Kristin Sverchek sold 3,500 shares of Lyft stock. The shares were sold at an average price of $17.51, for a total transaction of $61,285.00.
• On Friday, March 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The stock was sold at an average price of $16.30, for a total value of $105,950.00.
• On Wednesday, February 14th, Kristin Sverchek sold 5,670 shares of Lyft stock. The stock was sold at an average price of $15.02, for a total value of $85,163.40.

Lyft Trading Up 2.1 %

Shares of NASDAQ LYFT opened at $17.20 on Monday. Lyft, Inc. has a twelve month low of $7.85 and a twelve month high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The business has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $14.48. The firm has a market cap of $6.88 billion, a PE ratio of -19.33 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Analysts expect that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on LYFT. Truist Financial boosted their price target on Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $15.00 in a research report on Thursday, January 11th. Tigress Financial lifted their price target on shares of Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, April 8th. Finally, Argus raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.05.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently bought and sold shares of LYFT. Charles Schwab Investment Management Inc. increased its holdings in shares of Lyft by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock valued at $36,770,000 after acquiring an additional 1,043,719 shares during the period. Invesco Ltd. raised its holdings in Lyft by 21.3% in the third quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after purchasing an additional 778,563 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Lyft by 3.7% during the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after buying an additional 1,135,036 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Lyft in the 3rd quarter valued at about $1,224,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Lyft by 123.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock worth $12,740,000 after buying an additional 667,600 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.