Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its holdings in Lyft, Inc. (NASDAQ:LYFT) by 96.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,400 shares of the ride-sharing company’s stock after selling 1,227,760 shares during the period. Marshall Wace LLP’s holdings in Lyft were worth $697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FinTrust Capital Advisors LLC boosted its position in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Lyft in the first quarter valued at $41,000. GAMMA Investing LLC boosted its holdings in shares of Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Lyft during the fourth quarter worth about $34,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft in the 2nd quarter worth about $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on LYFT. Susquehanna decreased their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Roth Mkm lowered their target price on Lyft from $19.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research initiated coverage on Lyft in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Truist Financial decreased their price target on Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Twenty-six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.65.

Lyft Trading Down 0.6 %

NASDAQ:LYFT opened at $12.44 on Wednesday. The stock has a market cap of $5.02 billion, a PE ratio of -26.47 and a beta of 2.04. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The stock’s 50-day moving average is $11.60 and its two-hundred day moving average is $14.24.

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

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.