Lyft, Inc. (NASDAQ:LYFT) Director Sells $30,348.48 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The stock was 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 in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Lyft Price Performance

Lyft stock traded up $0.20 during midday trading on Thursday, reaching $13.02. The company’s stock had a trading volume of 37,458,975 shares, compared to its average volume of 20,593,602. The stock has a market cap of $5.44 billion, a PE ratio of 217.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The business has a 50-day moving average price of $13.57 and a 200-day moving average price of $13.69.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has approved 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 repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LYFT shares. UBS Group reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company cut their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets reduced their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. DA Davidson decreased their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Loop Capital upped their target price on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Twenty-six analysts have rated the stock with 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, the company has an average rating of “Hold” and an average price target of $17.22.

Institutional Trading of Lyft

A number of hedge funds have recently made changes to their positions in LYFT. Jefferies Financial Group Inc. bought a new stake in shares of Lyft during the fourth quarter worth about $950,000. American Trust acquired a new position in Lyft in the 4th quarter valued at approximately $154,000. Mackenzie Financial Corp bought a new position in shares of Lyft during the fourth quarter valued at $2,395,000. Forum Financial Management LP acquired a new position in shares of Lyft during the fourth quarter worth $132,000. Finally, Toronto Dominion Bank bought a new stake in shares of Lyft in the fourth quarter worth $279,000. 83.07% of the stock is 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.