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 stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the sale, the director now directly owns 879,498 shares in the company, valued at $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lyft Stock Down 1.3%

Shares of NASDAQ LYFT traded down $0.20 during midday trading on Friday, reaching $15.15. 14,053,646 shares of the company's stock traded hands, compared to its average volume of 16,367,344. 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's 50 day simple moving average is $13.16 and its 200-day simple moving average is $13.74. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 252.50, a P/E/G ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. Lyft's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent analyst reports. Truist Financial reduced their price objective on shares of Lyft from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Susquehanna increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Wedbush reduced their price objective on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. DA Davidson restated a "neutral" rating and issued a $15.00 target price on shares of Lyft in a research note on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $16.63.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently bought and sold shares of LYFT. KBC Group NV boosted its stake in Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock valued at $3,434,000 after acquiring an additional 207,672 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in Lyft in the fourth quarter valued at approximately $280,000. Washington Capital Management Inc. acquired a new stake in Lyft in the fourth quarter valued at approximately $408,000. Gries Financial LLC acquired a new stake in Lyft in the fourth quarter valued at approximately $200,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in Lyft in the fourth quarter valued at approximately $202,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.