Belpointe Asset Management LLC Sells 1,500 Shares of Lyft, Inc. $LYFT

Belpointe Asset Management LLC decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,898 shares of the ride-sharing company’s stock after selling 1,500 shares during the quarter. Belpointe Asset Management LLC’s holdings in Lyft were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Captrust Financial Advisors raised its stake in shares of Lyft by 169.2% during the fourth quarter. Captrust Financial Advisors now owns 29,112 shares of the ride-sharing company’s stock worth $376,000 after acquiring an additional 18,299 shares in the last quarter. Focus Partners Wealth raised its position in Lyft by 4.9% in the 4th quarter. Focus Partners Wealth now owns 35,481 shares of the ride-sharing company’s stock worth $458,000 after purchasing an additional 1,649 shares during the period. Janus Henderson Group PLC raised its position in Lyft by 3.8% in the 4th quarter. Janus Henderson Group PLC now owns 181,111 shares of the ride-sharing company’s stock worth $2,335,000 after purchasing an additional 6,649 shares during the period. Nuveen Asset Management LLC lifted its stake in Lyft by 8.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,458,557 shares of the ride-sharing company’s stock worth $18,815,000 after purchasing an additional 109,434 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Lyft during the fourth quarter valued at about $157,000. 83.07% of the stock is currently owned by institutional investors.

Insider Activity at Lyft

In other news, CEO John David Risher acquired 5,926 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the acquisition, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the sale, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,821 shares of company stock valued at $960,566 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Lyft from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price target on Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Citigroup reiterated a “hold” rating and issued a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. Wall Street Zen cut shares of Lyft from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley lifted their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Nine investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.07.

Lyft Stock Down 1.2%

LYFT stock opened at $20.19 on Wednesday. The business has a 50 day moving average of $15.68 and a 200 day moving average of $14.33. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The firm has a market cap of $8.21 billion, a PE ratio of 84.13, a price-to-earnings-growth ratio of 3.20 and a beta of 2.33. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $20.50.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, research analysts forecast that Lyft, Inc. will post 0.22 EPS 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.