Insider Selling: Lyft, Inc. (NASDAQ:LYFT) President 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, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares in the company, valued at $1,063,615. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 value of $101,010.00.
• 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 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 value of $61,285.00.
• On Friday, March 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The shares were 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 transaction of $85,163.40.

Lyft Trading Up 2.1 %

LYFT opened at $17.20 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50 day moving average price is $17.72 and its 200-day moving average price is $14.48. Lyft, Inc. has a one year low of $7.85 and a one year high of $20.82. 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 (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, equities analysts forecast that Lyft, Inc. will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of Lyft from a “buy” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $15.00 in a report on Thursday, January 11th. Barclays increased their price target on Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler lifted their price objective on Lyft from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. BMO Capital Markets began coverage on Lyft in a report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.05.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Lyft by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock worth $36,770,000 after acquiring an additional 1,043,719 shares during the period. Invesco Ltd. raised its position in Lyft by 21.3% during the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after purchasing an additional 778,563 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after buying an additional 1,135,036 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Lyft during the 3rd quarter worth $1,224,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Lyft by 123.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock valued at $12,740,000 after buying an additional 667,600 shares during the period. Institutional investors own 83.07% of the company’s stock.

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.