Simplicity Solutions LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,560 shares of the ride-sharing company’s stock, valued at approximately $191,000.
A number of other hedge funds also recently made changes to their positions in LYFT. Ellevest Inc. boosted its position in Lyft by 32.1% during the 4th quarter. Ellevest Inc. now owns 2,616 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 636 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Lyft during the 4th quarter worth about $50,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Lyft in the 4th quarter worth approximately $40,000. Panagora Asset Management Inc. bought a new position in shares of Lyft in the first quarter valued at approximately $206,000. Finally, Pinebridge Investments L.P. increased its stake in shares of Lyft by 59.5% during the fourth quarter. Pinebridge Investments L.P. now owns 6,119 shares of the ride-sharing company’s stock valued at $67,000 after acquiring an additional 2,283 shares during the period. Institutional investors own 73.56% of the company’s stock.
Lyft Trading Up 2.2 %
Shares of NASDAQ:LYFT opened at $11.67 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $4.41 billion, a PE ratio of -2.66 and a beta of 1.74. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $21.52. The firm has a fifty day moving average price of $9.99 and a 200 day moving average price of $10.86.
Lyft (NASDAQ:LYFT – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The ride-sharing company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.12. Lyft had a negative return on equity of 151.57% and a negative net margin of 37.33%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $976.87 million. Analysts expect that Lyft, Inc. will post -1.2 EPS for the current fiscal year.
Insider Buying and Selling at Lyft
In related news, Director Logan Green sold 21,013 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $8.06, for a total transaction of $169,364.78. Following the completion of the sale, the director now directly owns 474,344 shares of the company’s stock, valued at approximately $3,823,212.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on LYFT shares. TD Cowen increased their price target on Lyft from $9.00 to $11.00 and gave the company a “market perform” rating in a research note on Wednesday, July 19th. Bank of America dropped their price target on shares of Lyft from $10.00 to $8.50 in a research report on Friday, May 5th. Susquehanna reduced their price objective on shares of Lyft from $11.00 to $9.00 in a research report on Monday, May 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lyft from $12.00 to $11.00 in a report on Friday, May 5th. Finally, DA Davidson restated a “neutral” rating and issued a $12.50 price target on shares of Lyft in a research report on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.71.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.