Cerity Partners LLC Has $14.88 Million Position in Lyft, Inc. $LYFT

Cerity Partners LLC boosted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 22.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 675,876 shares of the ride-sharing company’s stock after acquiring an additional 124,736 shares during the period. Cerity Partners LLC owned 0.17% of Lyft worth $14,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LYFT. Robeco Institutional Asset Management B.V. acquired a new position in shares of Lyft in the third quarter valued at $386,000. Kercheville Advisors LLC bought a new stake in shares of Lyft during the 3rd quarter worth about $836,000. Earned Wealth Advisors LLC boosted its holdings in shares of Lyft by 4.8% during the 3rd quarter. Earned Wealth Advisors LLC now owns 19,164 shares of the ride-sharing company’s stock worth $422,000 after buying an additional 881 shares during the period. Brookwood Investment Group LLC acquired a new position in Lyft in the 3rd quarter valued at about $412,000. Finally, True Wealth Design LLC raised its holdings in Lyft by 30.4% in the 3rd quarter. True Wealth Design LLC now owns 7,223 shares of the ride-sharing company’s stock valued at $159,000 after acquiring an additional 1,683 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other news, Director David Lawee sold 6,578 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director owned 104,460 shares of the company’s stock, valued at approximately $2,355,573. This represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Prashant Aggarwal sold 96,900 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $2,160,870.00. Following the completion of the sale, the director owned 874,369 shares in the company, valued at approximately $19,498,428.70. The trade was a 9.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 187,443 shares of company stock worth $4,178,618 over the last quarter. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Performance

Shares of NASDAQ:LYFT opened at $19.21 on Friday. The company’s 50 day simple moving average is $20.69 and its 200 day simple moving average is $18.69. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.94. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. As a group, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research analyst reports. Cantor Fitzgerald reduced their price objective on Lyft from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday. Benchmark reissued a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. TD Cowen upped their price objective on Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Roth Capital set a $25.00 price objective on Lyft and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Sanford C. Bernstein boosted their target price on shares of Lyft from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, November 10th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.67.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.