Bard Financial Services Inc. Has $210,000 Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Bard Financial Services Inc. decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 36.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,500 shares of the ride-sharing company’s stock after selling 9,640 shares during the quarter. Bard Financial Services Inc.’s holdings in Lyft were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV boosted its position in Lyft by 15.3% during the 4th quarter. KBC Group NV now owns 56,012 shares of the ride-sharing company’s stock worth $840,000 after acquiring an additional 7,444 shares during the last quarter. Exencial Wealth Advisors LLC bought a new stake in Lyft in the 4th quarter valued at $420,000. Vinva Investment Management Ltd bought a new position in Lyft during the 4th quarter worth $204,000. Quadrature Capital Ltd acquired a new stake in shares of Lyft during the fourth quarter worth $1,302,000. Finally, Verition Fund Management LLC boosted its position in shares of Lyft by 201.2% in the fourth quarter. Verition Fund Management LLC now owns 485,153 shares of the ride-sharing company’s stock valued at $7,272,000 after acquiring an additional 324,061 shares during the period. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

NASDAQ:LYFT traded up $0.21 during midday trading on Friday, hitting $12.57. The company had a trading volume of 6,711,087 shares, compared to its average volume of 15,039,250. The company has a market capitalization of $5.07 billion, a PE ratio of -26.74 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The stock’s fifty day moving average price is $11.59 and its 200-day moving average price is $14.33.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted ($0.14) EPS. Lyft’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, research analysts expect that Lyft, Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In other news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now owns 764,332 shares in the company, valued at $8,988,544.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Logan Green sold 10,323 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on LYFT shares. Truist Financial dropped their price objective on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Loop Capital cut their target price on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Canaccord Genuity Group decreased their price target on Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Melius Research initiated coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 price target on the stock. Twenty-six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.65.

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.