Lyft, Inc. (NASDAQ:LYFT) Director Sells $27,439.68 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of the 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 owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 stock was sold at an average price of $11.40, for a total value of $81,943.20.

Lyft Stock Performance

LYFT stock opened at $12.47 on Friday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -26.53 and a beta of 2.04. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The business’s fifty day simple moving average is $11.54 and its two-hundred day simple moving average is $14.70.

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

Institutional Trading of Lyft

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC raised its position in Lyft by 19.9% during the 4th quarter. Private Advisor Group LLC now owns 14,476 shares of the ride-sharing company’s stock valued at $217,000 after purchasing an additional 2,403 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Lyft by 34.8% during the 4th quarter. QRG Capital Management Inc. now owns 15,089 shares of the ride-sharing company’s stock worth $226,000 after acquiring an additional 3,897 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Lyft during the 4th quarter worth about $175,000. Janney Montgomery Scott LLC purchased a new position in Lyft during the 4th quarter valued at about $796,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Lyft in the 4th quarter valued at about $292,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LYFT shares. Royal Bank of Canada reduced their price objective on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Fox Advisors upgraded shares of Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Friday, June 7th. Cantor Fitzgerald initiated coverage on Lyft in a research report on Thursday, September 5th. They set a “neutral” rating and a $13.00 price objective for the company. Morgan Stanley lifted their target price on Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, June 7th. Finally, Roth Mkm dropped their price target on Lyft from $19.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Twenty-six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $15.65.

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.