Marathon Trading Investment Management LLC Trims Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Marathon Trading Investment Management LLC decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 51.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,970 shares of the ride-sharing company’s stock after selling 11,620 shares during the period. Marathon Trading Investment Management LLC’s holdings in Lyft were worth $155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Seven Eight Capital LP raised its position in Lyft by 8.9% during the 2nd quarter. Seven Eight Capital LP now owns 449,268 shares of the ride-sharing company’s stock valued at $6,335,000 after purchasing an additional 36,558 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after acquiring an additional 1,160 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Lyft by 12.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,425 shares of the ride-sharing company’s stock worth $203,000 after acquiring an additional 1,640 shares during the period. Edgestream Partners L.P. bought a new position in Lyft during the 2nd quarter worth about $396,000. Finally, Primecap Management Co. CA grew its holdings in Lyft by 1.5% during the 2nd quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after acquiring an additional 94,710 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the sale, the president now owns 47,778 shares in the company, valued at $659,814.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Logan Green sold 10,323 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the sale, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,164 shares of company stock worth $470,513. Insiders own 3.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $12.17 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The firm has a 50 day moving average of $11.58 and a two-hundred day moving average of $14.75. The firm has a market capitalization of $4.91 billion, a PE ratio of -25.89 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted ($0.14) earnings per share. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, analysts anticipate that Lyft, Inc. will post -0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYFT. Canaccord Genuity Group lowered their price target on shares of Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of Lyft from $17.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $24.00 target price (up previously from $23.00) on shares of Lyft in a research report on Friday, June 7th. Wolfe Research began coverage on Lyft in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Citigroup decreased their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $15.65.

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.