Lyft, Inc. (NASDAQ:LYFT) President Sells $49,035.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the sale, the president now owns 50,778 shares in the company, valued at $711,399.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, July 1st, Kristin Sverchek sold 3,000 shares of Lyft stock. The shares were sold at an average price of $13.81, for a total value of $41,430.00.
• 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 transaction of $61,250.00.
• On Wednesday, May 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The shares were sold at an average price of $15.54, for a total transaction of $101,010.00.

Lyft Price Performance

NASDAQ:LYFT opened at $13.39 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82. The firm’s fifty day moving average price is $15.45 and its 200 day moving average price is $15.71.

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

Wall Street Analysts Forecast Growth

LYFT has been the topic of a number of research reports. Tigress Financial raised their price target on shares of Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Truist Financial lifted their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Sanford C. Bernstein raised their price target on Lyft from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. Vertical Research raised Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Finally, The Goldman Sachs Group increased their target price on Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Lyft in the fourth quarter valued at about $94,687,000. Kodai Capital Management LP purchased a new position in Lyft in the 4th quarter valued at approximately $26,069,000. Bank of Nova Scotia acquired a new position in Lyft during the fourth quarter worth $21,433,000. Price T Rowe Associates Inc. MD grew its holdings in Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after purchasing an additional 1,218,620 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Lyft by 3.7% in 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 in the last quarter. Institutional investors and hedge funds 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.