John Patrick Zimmer Sells 7,188 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 transaction of $52,366.98.

Lyft Stock Up 1.8 %

Shares of NASDAQ:LYFT opened at $11.68 on Friday. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The firm’s 50 day moving average price is $12.30 and its 200 day moving average price is $15.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -24.85 and a beta of 2.06.

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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. As a group, equities research analysts predict that Lyft, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LYFT shares. Piper Sandler reiterated an “overweight” rating and issued a $24.00 price objective (up from $23.00) on shares of Lyft in a report on Friday, June 7th. BMO Capital Markets decreased their target price on Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Melius started coverage on Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 price target for the company. Vertical Research upgraded shares of Lyft to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Canaccord Genuity Group reduced their price objective on Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Twenty-five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.87.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently added to or reduced their stakes in LYFT. International Assets Investment Management LLC purchased a new position in Lyft in the fourth quarter valued at approximately $645,000. CWM LLC grew its position in shares of Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after buying an additional 1,093 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Lyft by 29.2% in the 4th quarter. Handelsbanken Fonder AB now owns 63,300 shares of the ride-sharing company’s stock valued at $949,000 after buying an additional 14,300 shares during the last quarter. Truist Financial Corp raised its stake in Lyft by 3.2% during the 4th quarter. Truist Financial Corp now owns 58,094 shares of the ride-sharing company’s stock worth $871,000 after acquiring an additional 1,781 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Lyft in the fourth quarter valued at $1,830,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.