Kristin Sverchek Sells 16,000 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 16,000 shares of Lyft stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the transaction, the president now directly owns 80,978 shares of the company’s stock, valued at $1,619,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $17.51, for a total transaction of $61,285.00.
• On Friday, March 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The stock was 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.
• On Tuesday, January 2nd, Kristin Sverchek sold 5,669 shares of Lyft stock. The stock was sold at an average price of $14.16, for a total transaction of $80,273.04.

Lyft Trading Down 0.8 %

NASDAQ LYFT opened at $19.48 on Thursday. The company’s 50-day moving average price is $15.65 and its 200-day moving average price is $13.11. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a market cap 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 posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Equities research analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

LYFT has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their target price on shares of Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. Piper Sandler boosted their target price on shares of Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company boosted their target price on shares of Lyft from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. US Bancorp DE grew its holdings in Lyft by 35.0% during the 1st quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company’s stock worth $410,000 after acquiring an additional 2,768 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Lyft by 26.3% during the first quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company’s stock valued at $1,142,000 after buying an additional 6,200 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Lyft during the first quarter valued at about $731,000. Panagora Asset Management Inc. purchased a new stake in shares of Lyft during the first quarter valued at about $206,000. Finally, APG Asset Management N.V. lifted its position in shares of Lyft by 8.9% during the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company’s stock valued at $421,000 after buying an additional 1,000 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

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.