Insider Selling: Lyft, Inc. (NASDAQ:LYFT) President Sells $320,000.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 16,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the transaction, the president now owns 80,978 shares in the company, valued at approximately $1,619,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 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 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 value of $85,163.40.
• On Tuesday, January 2nd, Kristin Sverchek sold 5,669 shares of Lyft stock. The shares were sold at an average price of $14.16, for a total value of $80,273.04.

Lyft Trading Down 0.8 %

Shares of LYFT stock opened at $19.48 on Thursday. The firm has a 50 day moving average price of $15.65 and a two-hundred day moving average price of $13.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $7.79 billion, a PE ratio of -21.89 and a beta of 1.95. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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, analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Lyft

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of 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 buying an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $44,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Lyft in the third quarter valued at approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler increased their target price on Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Wedbush restated a “neutral” rating and set a $15.00 target price (up from $14.00) on shares of Lyft in a report on Wednesday, February 14th. Argus raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. Barclays increased their price objective on shares of Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group cut shares of Lyft from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.40.

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.