Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,751 shares of the ride-sharing company’s stock after selling 2,531 shares during the quarter. Private Advisor Group LLC’s holdings in Lyft were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Lyft during the 3rd quarter valued at $424,000. New York State Teachers Retirement System acquired a new stake in Lyft during the third quarter valued at $423,000. US Bancorp DE boosted its position in Lyft by 25.9% during the third quarter. US Bancorp DE now owns 40,494 shares of the ride-sharing company’s stock valued at $516,000 after purchasing an additional 8,328 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Lyft by 31.0% during the third quarter. Janney Montgomery Scott LLC now owns 58,785 shares of the ride-sharing company’s stock valued at $750,000 after purchasing an additional 13,915 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Lyft by 19.3% during the third quarter. Van ECK Associates Corp now owns 349,742 shares of the ride-sharing company’s stock valued at $4,777,000 after purchasing an additional 56,630 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,407 shares of company stock worth $203,778. Company insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LYFT. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. TD Cowen upped their price target on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Citigroup reiterated an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.13.

Lyft Price Performance

LYFT stock opened at $12.08 on Friday. The stock has a market cap of $5.05 billion, a PE ratio of 201.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The stock has a 50-day moving average price of $13.44 and a two-hundred day moving average price of $13.76. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82.

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

Lyft declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.