Insider Selling: Lyft, Inc. (NASDAQ:LYFT) Director Sells 7,188 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, May 29th, John Patrick Zimmer sold 3,327 shares of Lyft stock. The stock was sold at an average price of $15.74, for a total value of $52,366.98.

Lyft Stock Up 1.8 %

Shares of NASDAQ LYFT opened at $11.68 on Friday. The stock has a fifty day moving average price of $12.30 and a 200 day moving average price of $15.25. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The company has a market cap of $4.71 billion, a P/E ratio of -24.85 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. Research analysts anticipate that Lyft, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Lyft during the 4th quarter worth $645,000. CWM LLC lifted its stake in shares of Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after acquiring an additional 1,093 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Lyft by 29.2% in the fourth quarter. Handelsbanken Fonder AB now owns 63,300 shares of the ride-sharing company’s stock worth $949,000 after acquiring an additional 14,300 shares in the last quarter. Truist Financial Corp boosted its holdings in Lyft by 3.2% in the fourth quarter. Truist Financial Corp now owns 58,094 shares of the ride-sharing company’s stock valued at $871,000 after purchasing an additional 1,781 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Lyft during the 4th quarter worth approximately $1,830,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Melius Research assumed coverage on shares of Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 price target for the company. Bank of America raised Lyft from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $20.00 in a report on Friday, June 7th. Truist Financial cut their target price on Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group decreased their price target on Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Twenty-five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.87.

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.