Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 15.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,435 shares of the ride-sharing company’s stock after selling 4,293 shares during the quarter. Principal Financial Group Inc.’s holdings in Lyft were worth $278,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Amalgamated Bank raised its position in shares of Lyft by 4.0% in the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after buying an additional 892 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of Lyft by 11.3% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after buying an additional 914 shares during the period. Guggenheim Capital LLC raised its position in shares of Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock worth $207,000 after buying an additional 970 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock worth $46,000 after buying an additional 1,058 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lyft by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company’s stock worth $1,081,000 after buying an additional 1,132 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction that occurred 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 sale, the insider owned 959,697 shares of the company’s stock, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director directly owned 879,498 shares in the company, valued at approximately $13,896,068.40. This trade represents a 0.27% 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. 3.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on LYFT shares. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Susquehanna increased their target price on Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Bank of America lowered Lyft from a “buy” rating to an “underperform” rating and set a $10.50 price objective on the stock. in a research report on Thursday, April 3rd. UBS Group raised their price objective on Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Tigress Financial reissued a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.78.

Lyft Price Performance

NASDAQ:LYFT opened at $14.76 on Monday. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 98.40, a price-to-earnings-growth ratio of 2.90 and a beta of 2.20. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The stock has a 50-day simple moving average of $15.65 and a 200 day simple moving average of $13.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77.

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

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.