Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 31.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,785 shares of the ride-sharing company’s stock after purchasing an additional 13,915 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lyft were worth $750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft during the first quarter worth about $41,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the second quarter worth about $35,000. International Assets Investment Management LLC acquired a new position in shares of Lyft in the second quarter worth about $35,000. Quarry LP lifted its stake in shares of Lyft by 4,032.6% in 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 in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Lyft by 430.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 3,154 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price target (up previously from $17.00) on shares of Lyft in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets boosted their price target on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average price target of $17.48.

Lyft Stock Performance

Shares of LYFT stock opened at $18.12 on Monday. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of -113.25, a price-to-earnings-growth ratio of 5.26 and a beta of 2.04. The business has a 50 day simple moving average of $13.64 and a 200 day simple moving average of $13.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction on Tuesday, August 20th. The stock was 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 of the company’s stock, valued at approximately $10,625,506.80. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,987 shares of company stock valued at $619,025. 3.07% of the stock is owned by corporate 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.