Steward Partners Investment Advisory LLC Sells 860 Shares of Lyft, Inc. (NASDAQ:LYFT)

Steward Partners Investment Advisory LLC decreased its holdings in Lyft, Inc. (NASDAQ:LYFT) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,022 shares of the ride-sharing company’s stock after selling 860 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lyft were worth $116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Lyft in the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft in the fourth quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft in the fourth quarter worth $31,000. Byrne Asset Management LLC bought a new stake in shares of Lyft in the fourth quarter worth $35,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Lyft in the fourth quarter worth $35,000. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LYFT. Cantor Fitzgerald cut their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Barclays cut their price objective on Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Truist Financial cut their price target on Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets lowered their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.13.

Lyft Trading Up 5.8 %

LYFT opened at $11.92 on Monday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 198.67, a P/E/G ratio of 1.90 and a beta of 2.15. The stock’s 50 day moving average price is $13.24 and its 200-day moving average price is $13.79. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock valued at $203,778 over the last quarter. 3.07% of the stock is owned by corporate insiders.

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.