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

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

Lyft Stock Up 1.6 %

Shares of Lyft stock opened at $13.02 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.76 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 company has a market capitalization of $5.44 billion, a P/E ratio of 217.00, a P/E/G ratio of 1.90 and a beta of 2.16. The company has a 50 day moving average of $13.56 and a 200 day moving average of $13.68.

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

Lyft declared that its board has initiated a stock buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. acquired a new position in Lyft in the fourth quarter valued at approximately $950,000. American Trust purchased a new stake in shares of Lyft during the 4th quarter worth approximately $154,000. Mackenzie Financial Corp acquired a new position in shares of Lyft in the 4th quarter valued at $2,395,000. Forum Financial Management LP purchased a new position in shares of Lyft in the 4th quarter valued at $132,000. Finally, Toronto Dominion Bank acquired a new stake in Lyft during the 4th quarter worth $279,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LYFT. Tigress Financial boosted their target price on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Susquehanna decreased their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $18.00 target price (down previously from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Wednesday, February 12th. Finally, Loop Capital upped their price target on Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.