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 the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the sale, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale 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 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 value 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 shares were sold at an average price of $15.02, for a total transaction of $85,163.40.

Lyft Price Performance

Shares of Lyft stock traded up $0.36 on Friday, reaching $17.20. The stock had a trading volume of 15,994,496 shares, compared to its average volume of 16,267,067. The business’s 50 day moving average is $17.70 and its two-hundred day moving average is $14.38. The company has a market cap of $6.88 billion, a P/E ratio of -19.33 and a beta of 2.05. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, research analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current year.

Institutional Trading of Lyft

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Lyft by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock valued at $481,429,000 after purchasing an additional 659,133 shares during the period. Norges Bank purchased a new position in Lyft in the 4th quarter worth approximately $94,687,000. Jacobs Levy Equity Management Inc. boosted its stake in Lyft by 5.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after purchasing an additional 300,982 shares during the period. Invesco Ltd. grew its position 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 acquiring an additional 778,563 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lyft by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after acquiring an additional 141,823 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. TD Cowen raised their target price on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Monday, January 22nd. Moffett Nathanson raised Lyft from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 14th. Citigroup upped their price objective on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. The Goldman Sachs Group cut shares of Lyft from a “buy” rating to a “neutral” rating and upped their price target for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. Finally, Royal Bank of Canada raised shares of Lyft from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $17.00 to $23.00 in a research report on Monday, March 4th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.