Van ECK Associates Corp Sells 20,031 Shares of Lyft, Inc. (NASDAQ:LYFT)

Van ECK Associates Corp lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,112 shares of the ride-sharing company’s stock after selling 20,031 shares during the quarter. Van ECK Associates Corp owned 0.07% of Lyft worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of LYFT. International Assets Investment Management LLC purchased a new position in shares of Lyft during the 4th quarter valued at $645,000. Truist Financial Corp lifted its holdings in Lyft by 3.2% during the 4th quarter. Truist Financial Corp now owns 58,094 shares of the ride-sharing company’s stock worth $871,000 after purchasing an additional 1,781 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Lyft by 3.3% during the 4th quarter. Victory Capital Management Inc. now owns 185,963 shares of the ride-sharing company’s stock worth $2,788,000 after purchasing an additional 6,018 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Lyft by 19.9% during the 4th quarter. Private Advisor Group LLC now owns 14,476 shares of the ride-sharing company’s stock worth $217,000 after purchasing an additional 2,403 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after acquiring an additional 141,823 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Vertical Research raised Lyft to a “strong-buy” rating in a report on Friday, June 7th. Wolfe Research assumed coverage on Lyft in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley raised their price target on Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, June 7th. Finally, UBS Group lowered their price target on Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Twenty-five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $15.73.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lyft news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,497 shares of company stock worth $392,157. 3.07% of the stock is owned by insiders.

Lyft Trading Down 0.1 %

LYFT opened at $11.34 on Thursday. The business has a 50 day moving average of $11.96 and a 200-day moving average of $15.08. The stock has a market cap of $4.58 billion, a PE ratio of -24.13 and a beta of 2.04. Lyft, Inc. has a 52 week low of $8.85 and a 52 week high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Equities research analysts predict that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

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.