Insider Selling: Lyft, Inc. (NASDAQ:LYFT) Director 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 Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, August 20th, John Patrick Zimmer sold 7,188 shares of Lyft stock. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20.

Lyft Stock Down 0.7 %

LYFT traded down $0.08 during trading hours on Wednesday, reaching $12.17. 11,052,808 shares of the stock traded hands, compared to its average volume of 15,361,584. The firm’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $14.75. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -25.89 and a beta of 2.04. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. As a group, analysts forecast that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYFT has been the topic of several recent analyst reports. Wedbush reduced their price objective on shares of Lyft from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Gordon Haskett raised shares of Lyft from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $20.00 in a research note on Friday, June 7th. Canaccord Genuity Group reduced their price objective on shares of Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Lyft in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lyft currently has an average rating of “Hold” and a consensus target price of $15.65.

Institutional Investors Weigh In On Lyft

Large investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its holdings in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Lyft in the 1st quarter worth about $41,000. GAMMA Investing LLC increased its position in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Lyft in the 4th quarter worth about $34,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Lyft in the 2nd quarter worth about $35,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.