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 dated Friday, May 23rd. The shares were 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 of the company's stock, valued at approximately $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 this link.

Lyft Stock Performance

Lyft stock traded up $0.03 during mid-day trading on Monday, reaching $15.27. 10,555,963 shares of the company traded hands, compared to its average volume of 16,375,972. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 254.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The firm's fifty day moving average is $13.22 and its two-hundred day moving average is $13.66.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has initiated a share buyback program 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 repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

LYFT has been the subject of several research reports. Susquehanna boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Citigroup reaffirmed an "overweight" rating on shares of Lyft in a research report on Wednesday, February 12th. The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Friday, May 9th. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price target (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Finally, BMO Capital Markets lowered their price target on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.63.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft in the fourth quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft in the fourth quarter valued at about $29,000. GAMMA Investing LLC raised its position in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at about $35,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Lyft in the fourth quarter valued at about $35,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.