Sanctuary Advisors LLC Takes $388,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Sanctuary Advisors LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,485 shares of the ride-sharing company’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Lyft by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after acquiring an additional 782,736 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Lyft by 1.5% during the second quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after purchasing an additional 94,710 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Lyft by 1.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after purchasing an additional 63,461 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after purchasing an additional 812,926 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Lyft by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock worth $22,580,000 after purchasing an additional 167,400 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In related 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 transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the transaction, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 over the last three months. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

NASDAQ LYFT opened at $13.62 on Friday. The company has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $13.95. 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 firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -28.98 and a beta of 2.04. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) earnings per share. Equities research analysts predict that Lyft, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on LYFT. Royal Bank of Canada dropped their price objective on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Roth Mkm dropped their price objective on shares of Lyft from $19.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Barclays dropped their price objective on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Loop Capital dropped their price objective on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $13.00 in a report on Friday, August 23rd. Twenty-six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average price target 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.