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

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

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

• On Friday, June 28th, Kristin Sverchek sold 3,500 shares of Lyft stock. The stock was sold at an average price of $14.01, for a total value of $49,035.00.
• On Monday, June 3rd, Kristin Sverchek sold 6,500 shares of Lyft stock. The shares were sold at an average price of $15.77, for a total value 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 value 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 value of $101,010.00.

Lyft Trading Down 4.1 %

LYFT traded down $0.57 on Tuesday, reaching $13.40. 17,336,109 shares of the company’s stock were exchanged, compared to its average volume of 15,642,275. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company’s 50 day moving average is $15.58 and its 200-day moving average is $15.74. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -28.51 and a beta of 2.06.

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

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent research reports. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, March 5th. Vertical Research upgraded Lyft to a “strong-buy” rating in a research report on Friday, June 7th. The Goldman Sachs Group increased their target price on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Piper Sandler reissued an “overweight” rating and set a $24.00 price target (up previously from $23.00) on shares of Lyft in a research report on Friday, June 7th. Finally, Wedbush upped their price objective on Lyft from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One equities 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 company’s stock. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Lyft during the 4th quarter valued at approximately $94,687,000. Kodai Capital Management LP acquired a new position in shares of Lyft during the fourth quarter valued at $26,069,000. Bank of Nova Scotia bought a new position in shares of Lyft during the fourth quarter worth about $21,433,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Lyft by 592.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after acquiring an additional 1,218,620 shares during the period. Finally, Vanguard Group Inc. lifted its position in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.