Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in Lyft, Inc. (NASDAQ:LYFT) by 51.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,188 shares of the ride-sharing company’s stock after selling 37,385 shares during the period. Fisher Asset Management LLC’s holdings in Lyft were worth $527,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Austin Wealth Management LLC acquired a new stake in shares of Lyft in the fourth quarter worth approximately $375,000. Quarry LP acquired a new stake in shares of Lyft in the fourth quarter worth approximately $44,000. Ogborne Capital Management LLC acquired a new stake in shares of Lyft in the fourth quarter worth approximately $14,990,000. Oracle Alpha Inc. acquired a new stake in shares of Lyft in the fourth quarter worth approximately $446,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Lyft in the fourth quarter worth approximately $498,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of Lyft in a research report on Friday, June 7th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating and lifted their price target for the company from $15.00 to $20.00 in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Lyft in a research report on Friday, June 7th. Finally, Vertical Research raised shares of Lyft to a “strong-buy” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $18.04.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the completion of the transaction, the president now owns 54,278 shares in the company, valued at $855,964.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the completion of the transaction, the president now owns 54,278 shares in the company, valued at $855,964.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the transaction, the chief accounting officer now owns 351,853 shares of the company’s stock, valued at approximately $5,513,536.51. The disclosure for this sale can be found here. Insiders sold a total of 36,833 shares of company stock worth $590,509 over the last 90 days. Insiders own 3.07% of the company’s stock.

Lyft Stock Down 2.2 %

LYFT stock opened at $13.45 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82. The firm has a fifty day moving average price of $16.01 and a two-hundred day moving average price of $15.76. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of -28.62 and a beta of 2.09.

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

Lyft 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.