Park Avenue Securities LLC Acquires New Holdings in Lyft, Inc. (NASDAQ:LYFT)

Park Avenue Securities LLC purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,064 shares of the ride-sharing company’s stock, valued at approximately $388,000.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in Lyft during the 3rd quarter worth $90,604,000. Maple Rock Capital Partners Inc. raised its position in shares of Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after acquiring an additional 2,838,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after acquiring an additional 1,735,208 shares during the period. Point72 Asset Management L.P. bought a new stake in Lyft in the third quarter valued at approximately $13,430,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Lyft during the 2nd quarter worth approximately $3,349,000. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYFT. Barclays lifted their target price on shares of Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Morgan Stanley upped their target price on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Roth Mkm lifted their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their target price on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.84.

Lyft Price Performance

Lyft stock opened at $13.80 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $14.84 and its 200 day simple moving average is $13.41. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -86.25, a PEG ratio of 1.74 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company earned ($0.02) EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. Sell-side analysts forecast that Lyft, Inc. will post 0.06 EPS for the current year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares in the company, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock worth $427,330 over the last quarter. Corporate 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.