Benjamin Edwards Inc. Takes $72,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Benjamin Edwards Inc. bought a new position in Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,113 shares of the ride-sharing company’s stock, valued at approximately $72,000.

A number of other large investors have also recently added to or reduced their stakes in LYFT. Intech Investment Management LLC raised its holdings in Lyft by 33.0% in the 2nd quarter. Intech Investment Management LLC now owns 160,619 shares of the ride-sharing company’s stock worth $2,265,000 after acquiring an additional 39,811 shares during the period. XTX Topco Ltd bought a new position in shares of Lyft in the second quarter worth about $580,000. New Age Alpha Advisors LLC lifted its position in shares of Lyft by 17,900.0% during the 2nd quarter. New Age Alpha Advisors LLC now owns 180,000 shares of the ride-sharing company’s stock worth $2,538,000 after purchasing an additional 179,000 shares during the last quarter. Seven Eight Capital LP boosted its stake 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 during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Lyft by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after purchasing an additional 1,160 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Down 0.5 %

Shares of LYFT opened at $12.47 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $5.03 billion, a price-to-earnings ratio of -26.53 and a beta of 2.04. The stock has a fifty day moving average price of $11.54 and a two-hundred day moving average price of $14.66. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results 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 revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) earnings per share. Analysts predict that Lyft, Inc. will post -0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LYFT shares. Barclays cut their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating and increased their price target for the company from $15.00 to $20.00 in a report on Friday, June 7th. UBS Group decreased their price target on shares of Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald initiated coverage on shares of Lyft in a research report on Thursday, September 5th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Susquehanna decreased their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Twenty-six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.65.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,164 shares of company stock valued at $470,513. Insiders own 3.07% of the company’s stock.

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.