Insider Selling: 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 company’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 transaction, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $17.51, for a total value of $275,327.24.

Lyft Stock Down 0.8 %

Shares of NASDAQ LYFT opened at $19.48 on Thursday. The stock has a fifty day moving average price of $15.65 and a 200 day moving average price of $13.11. The company has a market cap of $7.79 billion, a P/E ratio of -21.89 and a beta of 1.95. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Research analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Lyft from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 14th. Wedbush reaffirmed a “neutral” rating and issued a $15.00 target price (up previously from $14.00) on shares of Lyft in a research note on Wednesday, February 14th. Nomura downgraded Lyft from a “neutral” rating to a “reduce” rating and raised their price target for the stock from $11.70 to $13.00 in a research report on Friday, December 29th. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. Finally, Piper Sandler lifted their price target on shares of Lyft from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.40.

Institutional Trading of Lyft

A number of hedge funds have recently made changes to their positions in LYFT. US Bancorp DE lifted its holdings in Lyft by 35.0% in the 1st quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company’s stock worth $410,000 after buying an additional 2,768 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Lyft by 26.3% in the first quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company’s stock worth $1,142,000 after acquiring an additional 6,200 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Lyft in the first quarter valued at about $731,000. Panagora Asset Management Inc. acquired a new stake in shares of Lyft during the first quarter worth approximately $206,000. Finally, APG Asset Management N.V. increased its stake in shares of Lyft by 8.9% in the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company’s stock worth $421,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.