28,060 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 28,060 shares of the ride-sharing company’s stock, valued at approximately $396,000.

Several other institutional investors and hedge funds have also made changes to their positions in LYFT. FinTrust Capital Advisors LLC boosted its position in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Lyft in the 4th quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft in the 2nd quarter worth about $35,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Lyft in the 2nd quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Lyft in the 4th quarter valued at about $40,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the completion of the sale, the president now owns 50,778 shares in the company, valued at approximately $711,399.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred 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 sale, the director now owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,164 shares of company stock worth $470,513. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

Shares of LYFT opened at $12.47 on Monday. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -26.53 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. Lyft, Inc. has a one year low of $8.85 and a one year high of $20.82. The stock’s fifty day moving average is $11.54 and its 200-day moving average is $14.66.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was up 40.6% on a year-over-year basis. Equities analysts anticipate that Lyft, Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Lyft in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and cut their target price for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. Melius Research assumed coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price for the company. Morgan Stanley boosted their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, June 7th. Finally, Loop Capital cut their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Twenty-six 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’s stock. According to data from MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus price target of $15.65.

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.