Insider Selling: Lyft, Inc. (NASDAQ:LYFT) President Sells $41,430.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the transaction, the president now owns 47,778 shares in the company, valued at $659,814.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, June 28th, Kristin Sverchek sold 3,500 shares of Lyft stock. The shares were sold at an average price of $14.01, for a total transaction of $49,035.00.
• On Monday, June 3rd, Kristin Sverchek sold 6,500 shares of Lyft stock. The stock was sold at an average price of $15.77, for a total transaction of $102,505.00.
• On Friday, May 3rd, Kristin Sverchek sold 3,500 shares of Lyft stock. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00.
• On Wednesday, May 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00.

Lyft Stock Performance

Lyft stock opened at $13.39 on Friday. Lyft, Inc. has a 1 year low of $8.85 and a 1 year high of $20.82. The firm’s 50 day moving average price is $15.45 and its two-hundred day moving average price is $15.71. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. Sell-side analysts forecast that Lyft, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lyft

A number of hedge funds and other institutional investors have recently modified their holdings of LYFT. Vanguard Group Inc. lifted its stake in Lyft by 2.4% during 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 buying an additional 782,736 shares in the last quarter. Norges Bank acquired a new stake in shares of Lyft during the fourth quarter valued at approximately $94,687,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Lyft by 1.1% during 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 acquiring an additional 63,461 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after acquiring an additional 141,823 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Lyft by 126.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after purchasing an additional 1,080,009 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of a number of research reports. Fox Advisors upgraded Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Friday, June 7th. The Goldman Sachs Group raised their target price on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Loop Capital upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, June 7th. Morgan Stanley lifted their price objective on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, June 7th. Finally, Tigress Financial upped their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $18.00.

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.