Insider Selling: Lyft, Inc. (NASDAQ:LYFT) Director Sells 2,424 Shares of Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 shares were sold at an average price of $11.40, for a total transaction of $81,943.20.

Lyft Trading Down 0.7 %

Shares of LYFT stock traded down $0.08 during trading hours on Wednesday, reaching $12.17. 11,052,808 shares of the stock traded hands, compared to its average volume of 15,361,584. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82. The business has a fifty day moving average price of $11.58 and a 200 day moving average price of $14.75. 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 firm has a market capitalization of $4.91 billion, a PE ratio of -25.89 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) EPS. On average, equities research analysts forecast that Lyft, Inc. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares during the last quarter. Commerce Bank boosted its stake in Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after purchasing an additional 782 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 993 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after acquiring an additional 1,160 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LYFT shares. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Nomura Securities raised shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Truist Financial reduced their target price on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Barclays reduced their target price on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup reduced their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.