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

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the completion of the transaction, the president now owns 50,778 shares in the company, valued at $711,399.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, July 1st, Kristin Sverchek sold 3,000 shares of Lyft stock. The stock was 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 stock was 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 stock was 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 value of $101,010.00.

Lyft Stock Down 0.1 %

Shares of NASDAQ LYFT opened at $13.39 on Friday. The business has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $15.71. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. 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 (NASDAQ:LYFT) last issued its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Analysts expect that Lyft, Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Bank of America raised Lyft from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $20.00 in a research note on Friday, June 7th. Fox Advisors raised Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Friday, June 7th. Vertical Research upgraded Lyft to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Wedbush raised their price target on Lyft from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.00.

Hedge Funds Weigh In On Lyft

Large investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC raised its position in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Allworth Financial LP increased its position in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Lyft in the first quarter worth $41,000. GAMMA Investing LLC lifted 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 buying an additional 664 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new position in shares of Lyft during the fourth quarter valued at $34,000. Institutional investors 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.