Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek Sells 3,500 Shares

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the sale, the president now directly owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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.
• On Thursday, March 21st, Kristin Sverchek sold 16,000 shares of Lyft stock. The shares were sold at an average price of $20.00, for a total value of $320,000.00.
• On Monday, March 4th, Kristin Sverchek sold 3,500 shares of Lyft stock. The stock was 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 transaction 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 Stock Performance

Lyft stock traded up $0.36 during mid-day trading on Friday, hitting $17.20. 15,994,496 shares of the company’s stock traded hands, compared to its average volume of 16,267,067. The firm has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $14.38. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -19.33 and a beta of 2.05. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data 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. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, research analysts expect that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Lyft

A number of large investors have recently modified their holdings of LYFT. SG Americas Securities LLC grew its position in Lyft by 11.3% in the third quarter. SG Americas Securities LLC now owns 55,465 shares of the ride-sharing company’s stock valued at $585,000 after acquiring an additional 5,653 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Lyft by 5.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock valued at $336,000 after purchasing an additional 1,535 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Lyft by 10.9% during the 3rd quarter. Xponance Inc. now owns 49,200 shares of the ride-sharing company’s stock valued at $519,000 after acquiring an additional 4,821 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Lyft by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,459,043 shares of the ride-sharing company’s stock worth $25,918,000 after buying an additional 27,928 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lyft by 16.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,727 shares of the ride-sharing company’s stock valued at $703,000 after purchasing an additional 9,663 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Piper Sandler increased their price target on Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. Truist Financial lifted their price objective on shares of Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their target price on Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.60.

About Lyft

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.