Private Advisor Group LLC Purchases 52,311 Shares of Lyft, Inc. (NASDAQ:LYFT)

Private Advisor Group LLC lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 300.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,697 shares of the ride-sharing company’s stock after purchasing an additional 52,311 shares during the quarter. Private Advisor Group LLC’s holdings in Lyft were worth $983,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Lyft in the fourth quarter valued at $34,000. International Assets Investment Management LLC bought a new position in Lyft in the second quarter valued at $35,000. C M Bidwell & Associates Ltd. bought a new position in Lyft in the fourth quarter valued at $40,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Lyft during the first quarter valued at about $41,000. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the subject of several analyst reports. Barclays cut their price target on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Roth Mkm cut their price target on shares of Lyft from $19.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Truist Financial cut their price target on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Wolfe Research began coverage on shares of Lyft in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Melius Research began coverage on shares of Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.65.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the sale, the president now owns 50,778 shares in the company, valued at $711,399.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the sale, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the completion of the sale, the president now owns 50,778 shares in the company, valued at approximately $711,399.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,740 shares of company stock worth $443,073. 3.07% of the stock is owned by insiders.

Lyft Price Performance

Shares of LYFT opened at $11.68 on Tuesday. The company has a market capitalization of $4.71 billion, a P/E ratio of -24.85 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $11.61 and a 200 day moving average of $14.80. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. As a group, equities research analysts anticipate 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.