33,267 Shares in Lyft, Inc. (NASDAQ:LYFT) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 33,267 shares of the ride-sharing company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. International Assets Investment Management LLC acquired a new stake in Lyft in the second quarter valued at about $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft in the 2nd quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Lyft during the 1st quarter valued at approximately $41,000. Quarry LP increased its position in Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Lyft in the 2nd quarter valued at approximately $72,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the subject of several research analyst reports. Loop Capital lowered their price target on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Evercore ISI boosted their price target on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday. Susquehanna dropped their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group boosted their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised their price target on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average target price of $17.23.

Lyft Stock Up 0.5 %

Shares of NASDAQ:LYFT opened at $17.78 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The business’s 50 day simple moving average is $12.96 and its two-hundred day simple moving average is $13.54. The firm has a market cap of $7.29 billion, a P/E ratio of -111.13 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 analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. Lyft’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. As a group, research analysts forecast that Lyft, Inc. will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the sale, the director now owns 330,790 shares in the company, valued at $3,843,779.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Logan Green sold 10,323 shares of the stock in a transaction that occurred 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 directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the transaction, the insider now owns 764,332 shares in the company, valued at $8,988,544.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 over the last three months. 3.07% of the stock is currently owned by insiders.

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.