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

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $14.01, for a total transaction of $49,035.00. Following the completion of the transaction, the president now directly owns 50,778 shares of the company’s stock, valued at $711,399.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 transaction 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 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 shares were sold at an average price of $15.54, for a total transaction of $101,010.00.

Lyft Price Performance

LYFT stock opened at $13.40 on Wednesday. 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 business has a 50-day moving average price of $15.58 and a 200 day moving average price of $15.74. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82.

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

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC grew its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Allworth Financial LP grew its stake in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Lyft in the first quarter valued at about $41,000. GAMMA Investing LLC grew its stake in Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares during the last quarter. Finally, a16z Perennial Management L.P. purchased a new stake in shares of Lyft during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LYFT shares. BMO Capital Markets raised their target price on shares of Lyft from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Loop Capital raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, June 7th. Barclays lifted their price objective on shares of Lyft from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 8th. Wells Fargo & Company dropped their price objective on shares of Lyft from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Wedbush lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.