AlphaQuest LLC Grows Position in Lyft, Inc. $LYFT

AlphaQuest LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 155.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,101 shares of the ride-sharing company’s stock after purchasing an additional 7,355 shares during the quarter. AlphaQuest LLC’s holdings in Lyft were worth $191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its holdings in Lyft by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock valued at $290,000 after purchasing an additional 868 shares during the last quarter. Amalgamated Bank lifted its holdings in Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after purchasing an additional 892 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Lyft by 39.4% during the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock valued at $65,000 after buying an additional 1,160 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after buying an additional 1,237 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on shares of Lyft from $11.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Susquehanna cut 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. Wells Fargo & Company raised their price objective on shares of Lyft from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Finally, Mizuho assumed coverage on shares of Lyft in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $24.00 price objective for the company. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $19.68.

Lyft Stock Up 3.6%

LYFT stock opened at $20.46 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $19.86 and its 200 day moving average is $16.56. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 85.25, a price-to-earnings-growth ratio of 3.58 and a beta of 2.36. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $23.50.

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

Insider Buying and Selling

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares in the company, valued at $8,241,167.16. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John David Risher acquired 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 74,427 shares of company stock worth $1,252,686. Insiders own 3.07% of the company’s stock.

Lyft 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.