Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Lyft, Inc. (NASDAQ:LYFT) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,415 shares of the ride-sharing company’s stock after selling 5,312 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lyft were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares during the period. BluePath Capital Management LLC bought a new position in Lyft in the 3rd quarter worth approximately $35,000. Gables Capital Management Inc. boosted its stake in Lyft by 129.0% in the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 2,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Lyft by 77.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 1,567 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its stake in Lyft by 21.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after purchasing an additional 814 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Insider Activity at Lyft

In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.51, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the sale, the president now owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The disclosure for this sale can be found here. Insiders have sold a total of 270,526 shares of company stock valued at $5,195,771 over the last quarter. 3.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LYFT has been the subject of a number of research reports. Citigroup increased their target price on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. UBS Group increased their price target on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Royal Bank of Canada upgraded Lyft from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $17.00 to $23.00 in a report on Monday, March 4th. Truist Financial increased their price target on Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group lowered Lyft from a “buy” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.60.

Lyft Price Performance

Shares of LYFT stock opened at $16.37 on Monday. Lyft, Inc. has a 1-year low of $7.85 and a 1-year high of $20.82. The stock’s 50-day moving average is $17.74 and its 200 day moving average is $14.28. The company has a market cap of $6.54 billion, a P/E ratio of -18.39 and a beta of 1.98. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Research analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

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.