US Bancorp DE Increases Holdings in Lyft, Inc. (NASDAQ:LYFT)

US Bancorp DE lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 25.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,494 shares of the ride-sharing company’s stock after purchasing an additional 8,328 shares during the quarter. US Bancorp DE’s holdings in Lyft were worth $516,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Lyft during the second quarter worth about $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the second quarter worth about $35,000. Allspring Global Investments Holdings LLC acquired a new stake in Lyft during the first quarter worth about $41,000. Quarry LP grew its holdings in Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in Lyft during the second quarter worth about $72,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lyft

In related news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction 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 sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was 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 approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Logan Green sold 10,323 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on LYFT shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Nomura raised Lyft from a “reduce” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $13.00 in a report on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $17.00) on shares of Lyft in a report on Thursday, November 7th. TD Cowen raised their price objective on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Twenty-eight 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, Lyft has an average rating of “Hold” and an average price target of $17.48.

Lyft Price Performance

NASDAQ:LYFT opened at $18.59 on Tuesday. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. 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 capitalization of $7.62 billion, a P/E ratio of -116.19 and a beta of 2.04. The stock’s fifty day moving average is $12.96 and its two-hundred day moving average is $13.49.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. Equities analysts expect that Lyft, Inc. will post -0.06 EPS for the current 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.