Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Lyft Inc. shares valued at $378,663 were sold by Sverchek Kristin on Aug 10. At $20.05 per share, Sverchek Kristin sold 18,885 shares. The insider’s holdings dropped to 194,538 shares worth approximately $3.1 million following the completion of this transaction.
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Also, Sverchek Kristin sold 13,000 shares, netting a total of over 246,789 in proceeds. Following the sale of shares at $18.98 each, the insider now holds 70,350 shares.
Before that, Wilderotter Mary Agnes had sold 553 shares from its account. In a trade valued at $9,919, the Director traded Lyft Inc. shares for $17.94 each. Upon closing the transaction, the insider’s holdings decreased to 553 shares, worth approximately $0.35 million.
As published in their initiating research note from BofA Securities on September 06, 2022, Lyft Inc. [LYFT] has been an Underperform. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in mid July. Earlier on May 24, 2022, Bernstein initiated its rating. Their recommendation was “a Mkt perform” for LYFT stock.
Analyzing LYFT’s Price Performance
On Wednesday, Lyft Inc. [NASDAQ: LYFT] plunged -5.51% to $15.94. The stock’s lowest price that day was $15.795, but it reached a high of $16.875 in the same session. During the last five days, there has been a drop of approximately -6.84%. Over the course of the year, Lyft Inc. shares have dropped approximately -62.70%. Shares of the company reached a 52-week high of $46.64 on 01/05/22 and a 52-week low of $11.96 on 07/13/22. A 50-day SMA is recorded $15.89, while a 200-day SMA reached $27.70. Nevertheless, trading volume fell to 14.68 million shares from 17.47 million shares the previous day.
Support And Resistance Levels for Lyft Inc. (LYFT)
According to the 24-hour chart, there is a support level at 15.53, which, if violated, would cause prices to drop to 15.12. In the upper region, resistance lies at 16.61. The next price resistance is at 17.28. RSI (Relative Strength Index) is 47.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 54.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lyft Inc. subject to short interest?
Stocks of Lyft Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 12.15 million shares to 41.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 29.79 million shares. A jump of 28.97% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.3.
Which companies own the most shares of Lyft Inc. (LYFT)?
According to Fidelity Management & Research Co filings, the company currently owns 36,536,050 shares, which is about 10.62% of the total LYFT shares outstanding. The investor’s shares have plunged by -11,233,600 from its previous 13-F filing of 47769650.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $373,292,919. BlackRock Fund Advisors acquire a 6.49% interest valued at $174.76 million while SSgA Funds Management, Inc. purchased a 301,631 stake. A total of -59,135 shares of Lyft Inc. were bought by ClearBridge Investments LLC during the quarter, and -13,813,771 were sold by JPMorgan Investment Management, I. In its current portfolio, Spyglass Capital Management LLC holds 5,205,490 shares valued at $76.68 million.
In terms of Lyft Inc. share price expectations, FactSet research, analysts set an average price target of $30.24 in the next 12 months, up nearly 54.12% from the previous closing price of $16.87. Analysts anticipate Lyft Inc. stock to reach $57.00 by 2022, with the lowest price target being $14.00. In spite of this, 39 analysts ranked Lyft Inc. stock as an Overweight at the end of 2022. On May 04, 2022, Susquehanna assigned a price target of “a Neutral” to the stock and downgraded coverage with a $25.