Vontobel Holding Ltd. Purchases 8,408 Shares of Lyft, Inc. (NASDAQ:LYFT)

Vontobel Holding Ltd. boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 21.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,181 shares of the ride-sharing company’s stock after buying an additional 8,408 shares during the period. Vontobel Holding Ltd.’s holdings in Lyft were worth $602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LYFT. Commonwealth Equity Services LLC boosted its position in shares of Lyft by 15.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock valued at $767,000 after acquiring an additional 5,184 shares during the last quarter. Swiss National Bank lifted its position in Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after purchasing an additional 13,300 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lyft during the 1st quarter valued at $41,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Lyft by 430.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 3,154 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Lyft by 492.1% in the 1st quarter. GSA Capital Partners LLP now owns 85,675 shares of the ride-sharing company’s stock valued at $1,658,000 after acquiring an additional 71,205 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

LYFT opened at $14.04 on Tuesday. The firm has a market capitalization of $5.66 billion, a PE ratio of -29.87 and a beta of 2.04. The business’s 50-day moving average is $12.12 and its two-hundred day moving average is $13.83. Lyft, Inc. has a 1 year low of $8.85 and a 1 year 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.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm 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%. Lyft’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. Research analysts anticipate that Lyft, Inc. will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYFT has been the subject of several research analyst reports. Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $13.00 in a report on Friday, August 23rd. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research report on Friday. Citigroup dropped their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Lyft in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.68.

Insider Activity

In related news, Director John Patrick Zimmer sold 2,424 shares of the business’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 transaction, the director now directly owns 929,638 shares in the company, valued at $10,523,502.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Logan Green sold 10,323 shares of the firm’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 directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,664 shares of company stock worth $380,048. Insiders own 3.07% of the company’s stock.

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.