John Patrick Zimmer Sells 2,424 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

John Patrick Zimmer also recently made the following trade(s):

• On Tuesday, August 20th, John Patrick Zimmer sold 7,188 shares of Lyft stock. The shares were sold at an average price of $11.40, for a total value of $81,943.20.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $12.53 on Friday. The company has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $14.73. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -26.66 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned ($0.14) EPS. Lyft’s quarterly revenue was up 40.6% compared to the same quarter last year. Analysts expect that Lyft, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LYFT. Commonwealth Equity Services LLC raised its holdings in Lyft by 15.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after acquiring an additional 5,184 shares during the last quarter. Swiss National Bank raised its stake in shares of Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after purchasing an additional 13,300 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Lyft by 163.9% during the fourth quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after purchasing an additional 62,623 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Lyft during the first quarter valued at $470,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Lyft in the 1st quarter worth about $41,000. Institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LYFT. Evercore ISI cut their target price on Lyft from $18.00 to $17.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets lowered their price target on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial reduced their price objective on Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $15.65.

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.