John Patrick Zimmer Sells 7,923 Shares of Lyft, Inc. (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director John Patrick Zimmer sold 7,923 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the transaction, the director now directly owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, March 21st, John Patrick Zimmer sold 193,200 shares of Lyft stock. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00.

Lyft Price Performance

LYFT opened at $15.43 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day simple moving average of $17.60 and a 200-day simple moving average of $15.10. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82.

Analysts Set New Price Targets

A number of brokerages recently commented on LYFT. Tigress Financial increased their price target on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Wednesday, May 8th. The Goldman Sachs Group raised their price target on Lyft from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. DA Davidson raised their target price on Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus price target of $16.70.

Institutional Trading of Lyft

Several hedge funds and other institutional investors have recently modified their holdings of LYFT. Commonwealth Equity Services LLC boosted its position in shares of Lyft by 5.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock worth $336,000 after buying an additional 1,535 shares during the period. Fifth Third Bancorp boosted its position in Lyft by 87.6% during the third quarter. Fifth Third Bancorp now owns 24,270 shares of the ride-sharing company’s stock valued at $256,000 after purchasing an additional 11,330 shares during the last quarter. M&T Bank Corp boosted its position in Lyft by 13.4% during the third quarter. M&T Bank Corp now owns 15,835 shares of the ride-sharing company’s stock valued at $166,000 after purchasing an additional 1,877 shares during the last quarter. Principal Financial Group Inc. boosted its position in Lyft by 8.3% during the third quarter. Principal Financial Group Inc. now owns 39,617 shares of the ride-sharing company’s stock valued at $418,000 after purchasing an additional 3,029 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Lyft by 15.8% during the third quarter. California Public Employees Retirement System now owns 504,807 shares of the ride-sharing company’s stock valued at $5,321,000 after purchasing an additional 68,934 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.