Janney Montgomery Scott LLC Sells 2,879 Shares of Lyft, Inc. (NASDAQ:LYFT)

Janney Montgomery Scott LLC lowered its position in Lyft, Inc. (NASDAQ:LYFT) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,906 shares of the ride-sharing company’s stock after selling 2,879 shares during the period. Janney Montgomery Scott LLC’s holdings in Lyft were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Lyft by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after acquiring an additional 1,477 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Lyft in the second quarter worth approximately $388,000. CWM LLC increased its holdings in Lyft by 512.2% during the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock worth $544,000 after purchasing an additional 35,688 shares during the period. Wesbanco Bank Inc. bought a new stake in Lyft during the 3rd quarter valued at $284,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Lyft by 21.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company’s stock worth $602,000 after buying an additional 8,408 shares during the period. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

LYFT has been the topic of several research reports. DA Davidson raised their price target on Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $23.00 target price (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Wedbush decreased their price target on Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, UBS Group dropped their price target on Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $17.78.

Lyft Price Performance

NASDAQ:LYFT opened at $14.17 on Friday. The stock has a market capitalization of $5.88 billion, a PE ratio of -88.56, a price-to-earnings-growth ratio of 1.86 and a beta of 2.16. The stock’s 50-day moving average price is $14.16 and its 200-day moving average price is $13.46. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, equities analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

About Lyft

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.