Lyft, Inc. (NASDAQ:LYFT) President Sells $61,250.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the transaction, the president now directly owns 60,778 shares in the company, valued at $1,063,615. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Price Performance

Shares of LYFT opened at $17.20 on Monday. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $14.48. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82. The stock has a market cap of $6.88 billion, a PE ratio of -19.33 and a beta of 2.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

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

Institutional Trading of Lyft

Several institutional investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC grew its position in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Allworth Financial LP boosted its holdings 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 acquiring an additional 1,672 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Lyft during the 1st quarter valued at approximately $41,000. GAMMA Investing LLC raised its holdings in Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new position in shares of Lyft in the 4th quarter worth approximately $34,000. Institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LYFT. Wells Fargo & Company increased their target price on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, April 8th. Argus raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, March 5th. Citigroup upped their target price on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Royal Bank of Canada upgraded Lyft from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $17.00 to $23.00 in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. One equities 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.05.

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.