63,504 Shares in Lyft, Inc. $LYFT Acquired by Aviance Capital Partners LLC

Aviance Capital Partners LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 63,504 shares of the ride-sharing company’s stock, valued at approximately $1,398,000.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in 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 worth $31,000 after acquiring an additional 1,203 shares in the last quarter. Bogart Wealth LLC increased its stake in Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares during the period. Quent Capital LLC acquired a new stake in shares of Lyft during the third quarter worth about $34,000. Tower Research Capital LLC TRC boosted its stake in shares of Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 2,587 shares during the period. Finally, SRH Advisors LLC acquired a new position in shares of Lyft in the second quarter valued at approximately $62,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LYFT. Arete Research set a $20.00 target price on shares of Lyft and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on Lyft from $20.50 to $22.50 and gave the company an “equal weight” rating in a research report on Monday, December 8th. BMO Capital Markets boosted their price objective on Lyft from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada upped their target price on shares of Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.67.

Insider Transactions at Lyft

In other news, CEO John David Risher acquired 5,030 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the purchase, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at $233,685,460.80. This represents a 0.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Prashant Aggarwal sold 96,900 shares of Lyft stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $2,160,870.00. Following the completion of the sale, the director directly owned 874,369 shares in the company, valued at $19,498,428.70. This represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 187,443 shares of company stock worth $4,178,618 over the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Performance

NASDAQ LYFT opened at $18.33 on Friday. The firm has a market cap of $7.32 billion, a P/E ratio of 48.24, a P/E/G ratio of 1.17 and a beta of 1.94. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The business’s 50-day moving average price is $20.52 and its 200 day moving average price is $18.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last announced 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 company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft 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.