Blair William & Co. IL Reduces Stock Position in Lyft, Inc. $LYFT

Blair William & Co. IL lessened its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 64.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,940 shares of the ride-sharing company’s stock after selling 29,303 shares during the quarter. Blair William & Co. IL’s holdings in Lyft were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lyft in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in shares of Lyft by 81.4% in 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 period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Lyft in the 1st quarter worth approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 1,769 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LYFT. TD Cowen increased their price objective on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Oppenheimer increased their price objective on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Lyft from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Cowen reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus target price of $19.12.

Lyft Price Performance

NASDAQ LYFT opened at $19.53 on Friday. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $23.50. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 81.38, a PEG ratio of 3.52 and a beta of 2.40. The company’s 50 day moving average is $18.85 and its two-hundred day moving average is $15.82. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company 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 company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred 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 sale, the chief financial officer owned 525,759 shares in the company, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,427 shares of company stock worth $1,252,686 over the last quarter. 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.