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 the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lyft Stock Up 2.6 %

Shares of NASDAQ:LYFT opened at $13.36 on Friday. The firm’s 50-day moving average is $13.55 and its two-hundred day moving average is $13.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a market capitalization of $5.58 billion, a PE ratio of 222.58, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spurstone Advisory Services LLC acquired a new stake in Lyft in the 4th quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in shares of Lyft during the third quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new position in Lyft in the fourth quarter worth approximately $31,000. Finally, Byrne Asset Management LLC acquired a new position in Lyft during the 4th quarter worth approximately $35,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. BMO Capital Markets reduced their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Roth Mkm increased their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital raised their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America upped their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twenty-six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price of $17.22.

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.