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 business’s 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 completion of the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lyft Trading Up 1.6 %

NASDAQ:LYFT opened at $13.02 on Friday. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $13.68. The company has a market capitalization of $5.44 billion, a PE ratio of 217.00, 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has initiated a share 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 reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LYFT shares. Wells Fargo & Company cut their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Barclays dropped their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their target price on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, January 6th. Finally, Wedbush decreased their price objective on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.22.

Institutional Investors Weigh In On Lyft

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Lyft by 2,103.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock worth $252,000 after acquiring an additional 18,868 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Lyft by 4,469.8% in the 3rd quarter. International Assets Investment Management LLC now owns 114,062 shares of the ride-sharing company’s stock valued at $1,454,000 after purchasing an additional 111,566 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Lyft by 34.1% during the 3rd quarter. Allworth Financial LP now owns 7,282 shares of the ride-sharing company’s stock worth $93,000 after purchasing an additional 1,852 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Lyft during the third quarter worth about $424,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Lyft in the third quarter valued at approximately $301,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.