Kristin Sverchek Sells 3,000 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the transaction, the president now owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, June 28th, Kristin Sverchek sold 3,500 shares of Lyft stock. The shares were sold at an average price of $14.01, for a total transaction of $49,035.00.
• On Monday, June 3rd, Kristin Sverchek sold 6,500 shares of Lyft stock. The shares were 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 shares were 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 transaction of $101,010.00.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $13.39 on Thursday. 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, Inc. has a 52 week low of $8.85 and a 52 week high of $20.82. The firm has a 50-day moving average price of $15.51 and a 200 day moving average price of $15.73.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Research analysts predict that Lyft, Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on LYFT shares. BMO Capital Markets boosted their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, June 7th. Fox Advisors upgraded shares of Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Friday, June 7th. Citigroup boosted their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. DA Davidson boosted their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On Lyft

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Lyft by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after acquiring an additional 782,736 shares in the last quarter. Norges Bank purchased a new position in Lyft during the 4th quarter valued at about $94,687,000. Jacobs Levy Equity Management Inc. increased its holdings in Lyft by 1.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after acquiring an additional 63,461 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lyft by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after buying an additional 141,823 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Lyft by 126.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after buying an additional 1,080,009 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other 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.