Sanctuary Advisors LLC Has $517,000 Stake in Lyft, Inc. (NASDAQ:LYFT)

Sanctuary Advisors LLC lifted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 34.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,117 shares of the ride-sharing company’s stock after acquiring an additional 9,663 shares during the quarter. Sanctuary Advisors LLC’s holdings in Lyft were worth $517,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Lyft during the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lyft during the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new stake in Lyft during the 4th quarter worth approximately $31,000. Byrne Asset Management LLC acquired a new stake in Lyft during the 4th quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in Lyft during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on LYFT. Roth Mkm lifted their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, January 6th. Finally, Bank of America lifted their target price on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Twenty-six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average price target of $17.22.

Lyft Trading Up 2.6 %

Shares of LYFT stock opened at $13.36 on Friday. The company has a 50 day moving average of $13.55 and a 200-day moving average of $13.73. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82. The firm has a market cap of $5.58 billion, a P/E ratio of 222.58, a PEG ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its board has authorized a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.