Cerity Partners LLC Has $2.13 Million Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Cerity Partners LLC lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 44.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,287 shares of the ride-sharing company’s stock after purchasing an additional 55,399 shares during the quarter. Cerity Partners LLC’s holdings in Lyft were worth $2,128,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Spurstone Advisory Services LLC acquired a new position in shares of Lyft during the 4th quarter worth $25,000. GAMMA Investing LLC increased its stake in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lyft during the 1st quarter worth $35,000. Harbour Investments Inc. boosted its holdings in shares of Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock worth $36,000 after buying an additional 2,000 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lyft during the 4th quarter worth $41,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Lyft stock opened at $14.76 on Monday. The company’s 50 day simple moving average is $15.65 and its 200 day simple moving average is $13.68. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 98.40, a PEG ratio of 2.90 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Friday, May 9th. Citigroup reaffirmed a “hold” rating and set a $14.00 price objective (down from $22.00) on shares of Lyft in a report on Friday, June 27th. DA Davidson reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Lyft in a report on Wednesday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Finally, Wells Fargo & Company upped their price objective on shares of Lyft from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.78.

Insider Activity at Lyft

In related news, CEO John David Risher purchased 6,538 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer owned 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the sale, the insider directly owned 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,732 shares of company stock worth $347,159. Corporate insiders own 3.07% 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.