International Assets Investment Management LLC Raises Stake in Lyft, Inc. (NASDAQ:LYFT)

International Assets Investment Management LLC boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 4,469.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,062 shares of the ride-sharing company’s stock after buying an additional 111,566 shares during the quarter. International Assets Investment Management LLC’s holdings in Lyft were worth $1,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its position in Lyft by 4.4% during the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 993 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after buying an additional 1,160 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Lyft by 6.1% during the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after acquiring an additional 1,437 shares during the period. Finally, CWM LLC raised its position in Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after acquiring an additional 1,457 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s 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 transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at $8,988,544.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,664 shares of company stock worth $380,048. Company insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Lyft stock opened at $13.48 on Monday. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of -84.25 and a beta of 2.04. 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 50 day simple moving average of $12.57 and a 200-day simple moving average of $13.53. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that Lyft, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on LYFT. Citigroup lowered their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. UBS Group raised their price target on shares of Lyft from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wedbush reissued an “underperform” rating on shares of Lyft in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $13.00 in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price of $15.87.

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.