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SAN FRANCISCO—John Patrick Zimmer, a director at Lyft , Inc. (NASDAQ:LYFT), recently sold a portion of his holdings in the company. According to a recent SEC filing, Zimmer sold 2,424 shares of Class A Common Stock on February 25, 2025. The shares were sold at a weighted average price of $12.5162, resulting in a total transaction value of approximately $30,339. The transaction comes as Lyft shares, currently trading at $13.02, have shown significant volatility in recent months, with the stock down nearly 22% over the past year.
The transaction was executed under a Rule 10b5-1 trading plan, which Zimmer adopted on May 31, 2024. Following this sale, Zimmer holds 911,922 shares, including certain restricted stock units that are subject to vesting conditions.
The sale was executed in multiple trades at prices ranging between $12.24 and $12.76 per share. Zimmer remains a significant shareholder in the company, continuing to hold a substantial number of shares.
In other recent news, Lyft’s financial performance and strategic developments have been the focus of several analyst reports. Lyft’s fourth-quarter earnings showcased a robust 15% increase in ride numbers and an adjusted EBITDA of $112.8 million, surpassing analyst expectations. However, Lyft’s guidance for the first quarter of 2025 indicates slower Gross Bookings growth at 10-14%, attributed to competitive pricing pressures and the end of its partnership with Delta Airlines (NYSE:DAL). Analysts from Bernstein, RBC Capital, DA Davidson, and BMO Capital have adjusted their price targets for Lyft, with figures ranging from $15 to $21, reflecting concerns over pricing strategies and market competition. Despite these challenges, some analysts, like those from RBC Capital and Benchmark, remain optimistic about Lyft’s long-term prospects, citing potential margin and cash flow growth. Lyft’s recent announcement of a $500 million stock buyback program and progress in autonomous vehicle technology are seen as positive developments. The company’s efforts to sustain competition with Uber (NYSE:UBER) and navigate the competitive landscape remain under close scrutiny. Investors are keenly observing how Lyft’s strategic moves will impact its growth trajectory in the rideshare industry.
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