Lyft, Inc. (NASDAQ:LYFT) Director Sells $3,871,728.00 in Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now owns 932,544 shares in the company, valued at $18,688,181.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

John Patrick Zimmer also recently made the following trade(s):

• On Tuesday, February 20th, John Patrick Zimmer sold 15,724 shares of Lyft stock. The shares were sold at an average price of $17.51, for a total value of $275,327.24.

Lyft Price Performance

NASDAQ:LYFT opened at $19.48 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -21.89 and a beta of 1.95. Lyft, Inc. has a 52 week low of $7.85 and a 52 week high of $20.82. The firm’s 50-day simple moving average is $15.65 and its 200 day simple moving average is $13.11.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, sell-side analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Lyft

Several institutional investors and hedge funds have recently made changes to their positions in LYFT. Vanguard Group Inc. boosted its holdings in Lyft by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock worth $481,429,000 after acquiring an additional 659,133 shares in the last quarter. Norges Bank bought a new stake in Lyft during the fourth quarter worth $73,660,000. Clearbridge Investments LLC raised its stake in shares of Lyft by 46.4% during the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after purchasing an additional 2,050,430 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lyft by 5.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after buying an additional 300,982 shares during the last quarter. Finally, Morgan Stanley grew its position in Lyft by 29.1% during the third quarter. Morgan Stanley now owns 5,616,086 shares of the ride-sharing company’s stock valued at $59,194,000 after buying an additional 1,267,124 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LYFT. Citigroup lifted their target price on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, March 5th. Royal Bank of Canada upgraded shares of Lyft from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $17.00 to $23.00 in a report on Monday, March 4th. Wells Fargo & Company lifted their price target on shares of Lyft from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group cut shares of Lyft from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $15.00 in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.40.

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.