2,959 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Quarry LP

Quarry LP purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,959 shares of the ride-sharing company’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently made changes to their positions in the business. Commerce Bank raised its position in Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after purchasing an additional 782 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after acquiring an additional 814 shares during the period. CWM LLC raised its stake in shares of Lyft by 15.4% during the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after acquiring an additional 1,093 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 1,567 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now owns 932,544 shares in the company, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total value of $101,010.00. Following the completion of the sale, the president now owns 64,278 shares of the company’s stock, valued at $998,880.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,033 shares of company stock valued at $4,782,237. 3.07% of the stock is owned by company insiders.

Lyft Stock Down 2.1 %

LYFT opened at $14.17 on Monday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of -30.15 and a beta of 2.09. The firm has a 50 day moving average price of $16.49 and a 200-day moving average price of $15.71. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. Equities research analysts forecast that Lyft, Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LYFT shares. BMO Capital Markets lifted their price objective on Lyft from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. Morgan Stanley boosted their price objective on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of Lyft in a research note on Friday, June 7th. Wedbush increased their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, Wells Fargo & Company raised their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus price target of $18.04.

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.