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

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lyft Stock Performance

NASDAQ:LYFT opened at $13.36 on Friday. The firm’s fifty day simple moving average is $13.55 and its 200-day simple moving average is $13.71. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.58 billion, a PE ratio of 222.58, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

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

Lyft declared that its board has authorized a stock repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock valued at $464,434,000 after purchasing an additional 984,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after acquiring an additional 80,675 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after acquiring an additional 1,224,056 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LYFT shares. Canaccord Genuity Group raised their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Capital reiterated a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. UBS Group decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, January 6th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus price target of $17.22.

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.