Park Avenue Securities LLC Takes Position in Lyft, Inc. $LYFT

Park Avenue Securities LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 30,961 shares of the ride-sharing company’s stock, valued at approximately $488,000.

A number of other institutional investors have also modified their holdings of LYFT. PNC Financial Services Group Inc. raised its position in shares of Lyft by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 2,871 shares during the last quarter. Maxi Investments CY Ltd raised its position in shares of Lyft by 320.4% in the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock valued at $11,228,000 after purchasing an additional 720,933 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Lyft in the 1st quarter valued at approximately $2,191,000. Kaufman Rossin Wealth LLC raised its position in shares of Lyft by 93.1% in the 2nd quarter. Kaufman Rossin Wealth LLC now owns 32,188 shares of the ride-sharing company’s stock valued at $507,000 after purchasing an additional 15,518 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Lyft by 40.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,314 shares of the ride-sharing company’s stock valued at $1,221,000 after purchasing an additional 29,912 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction on Monday, September 15th. The shares were sold at an average price of $20.00, for a total value of $292,120.00. Following the sale, the insider owned 835,782 shares of the company’s stock, valued at approximately $16,715,640. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the sale, the chief financial officer directly owned 525,759 shares in the company, valued at $9,064,085.16. This represents a 2.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Roth Capital raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, August 7th. TD Cowen increased their price objective on shares of Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. UBS Group increased their price objective on shares of Lyft from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. BMO Capital Markets increased their price objective on shares of Lyft from $16.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, September 18th. Finally, Susquehanna decreased their price objective on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Ten equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.84.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $22.93 on Tuesday. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 95.55, a PEG ratio of 3.42 and a beta of 2.33. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $23.50. The firm’s 50 day simple moving average is $17.00 and its 200-day simple moving average is $15.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business earned $0.24 EPS. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts expect that Lyft, Inc. will post 0.22 EPS for the current 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.