Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer Sells 2,424 Shares

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Lyft Price Performance

LYFT traded down $0.78 during midday trading on Monday, hitting $12.56. The company had a trading volume of 11,982,281 shares, compared to its average volume of 20,239,857. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market capitalization of $5.25 billion, a PE ratio of 209.78, a P/E/G ratio of 1.90 and a beta of 2.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The firm's 50-day simple moving average is $13.55 and its 200-day simple moving average is $13.76.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Equities research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

Hedge funds have recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the 4th quarter valued at about $25,000. True Wealth Design LLC bought a new position in Lyft in the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft during the 4th quarter valued at $31,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Lyft in the 4th quarter valued at $35,000. Institutional investors own 83.07% of the company's stock.

Analysts Set New Price Targets

LYFT has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. TD Cowen raised their target price on Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, November 7th. Bank of America boosted their price target on Lyft from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group boosted their price target on shares of Lyft from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on shares of Lyft from $16.50 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Twenty-six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lyft has an average rating of "Hold" and an average target price of $17.22.

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.