Commonwealth Equity Services LLC Purchases 4,115 Shares of Lyft, Inc. (NASDAQ:LYFT)

Commonwealth Equity Services LLC grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,728 shares of the ride-sharing company’s stock after acquiring an additional 4,115 shares during the period. Commonwealth Equity Services LLC’s holdings in Lyft were worth $617,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC raised 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 purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Lyft in the 1st quarter worth $41,000. GAMMA Investing LLC grew its holdings in shares of Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after acquiring an additional 664 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Lyft during the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Lyft during the second quarter valued at approximately $35,000. Institutional investors own 83.07% of the company’s stock.

Insider Activity

In related news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now directly owns 932,062 shares of the company’s stock, valued at $10,625,506.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were 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 directly owns 932,062 shares in the company, valued at $10,625,506.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 3,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $659,814.18. The disclosure for this sale can be found here. Insiders sold a total of 39,164 shares of company stock valued at $470,513 in the last quarter. 3.07% of the stock is currently owned by company insiders.

Lyft Price Performance

Shares of LYFT opened at $12.53 on Friday. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a 50 day moving average of $11.56 and a two-hundred day moving average of $14.73. 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 company has a market cap of $5.06 billion, a price-to-earnings ratio of -26.66 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted 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. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned ($0.14) EPS. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, analysts predict that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Vertical Research upgraded Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Nomura Securities upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded shares of Lyft from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $20.00 in a research report on Friday, June 7th. Melius assumed coverage on Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective for the company. Finally, Wedbush dropped their price target on shares of Lyft from $19.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Twenty-six equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.65.

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.