Allworth Financial LP Purchases 1,672 Shares of Lyft, Inc. (NASDAQ:LYFT)

Allworth Financial LP boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 685.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,916 shares of the ride-sharing company’s stock after acquiring an additional 1,672 shares during the period. Allworth Financial LP’s holdings in Lyft were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Lyft by 4.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 13,303 shares of the ride-sharing company’s stock valued at $510,000 after purchasing an additional 530 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after buying an additional 814 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Lyft by 12.9% in the first quarter. Prudential Financial Inc. now owns 8,005 shares of the ride-sharing company’s stock worth $308,000 after acquiring an additional 914 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Lyft by 8.9% in the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company’s stock worth $421,000 after acquiring an additional 1,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lyft by 11.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the ride-sharing company’s stock worth $131,000 after acquiring an additional 1,211 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Down 3.9 %

LYFT stock opened at $18.76 on Monday. The firm has a market cap of $7.50 billion, a P/E ratio of -21.08 and a beta of 1.98. Lyft, Inc. has a 52-week low of $7.85 and a 52-week high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company’s 50-day simple moving average is $17.20 and its 200-day simple moving average is $13.84.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities analysts forecast that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. TD Cowen lifted their price objective on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research note on Monday, January 22nd. Barclays boosted their price objective on shares of Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Royal Bank of Canada upgraded Lyft from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $17.00 to $23.00 in a research note on Monday, March 4th. Finally, BMO Capital Markets initiated coverage on Lyft in a research note on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.52.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the transaction, the director now owns 932,544 shares in the company, valued at $18,688,181.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the sale, the president now owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The disclosure for this sale can be found here. Insiders sold a total of 270,526 shares of company stock worth $5,195,771 in the last 90 days. Insiders own 3.16% of the company’s stock.

Lyft Company 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.