Lyft, Inc. $LYFT Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Lyft, Inc. (NASDAQ:LYFT) by 15.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 426,314 shares of the ride-sharing company’s stock after buying an additional 56,117 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.10% of Lyft worth $9,029,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LYFT. Amalgamated Bank boosted its holdings in shares of Lyft by 2.5% in the third quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock valued at $477,000 after acquiring an additional 534 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in Lyft in the third quarter valued at about $1,398,000. Maryland State Retirement & Pension System lifted its position in Lyft by 19.7% in the third quarter. Maryland State Retirement & Pension System now owns 20,561 shares of the ride-sharing company’s stock valued at $453,000 after purchasing an additional 3,389 shares during the period. Kera Capital Partners Inc. boosted its holdings in Lyft by 28.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 23,452 shares of the ride-sharing company’s stock valued at $516,000 after purchasing an additional 5,236 shares in the last quarter. Finally, Bogart Wealth LLC increased its position in Lyft by 46.3% during the 3rd quarter. Bogart Wealth LLC now owns 3,161 shares of the ride-sharing company’s stock worth $70,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LYFT shares. Benchmark reissued a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. Mizuho boosted their target price on shares of Lyft from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Truist Financial upped their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Roth Mkm set a $25.00 price target on shares of Lyft and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Cantor Fitzgerald decreased their price objective on shares of Lyft from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.76.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $17.90 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average price is $19.95 and its 200 day moving average price is $18.86. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 47.11, a PEG ratio of 1.15 and a beta of 1.94.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In related news, CEO John David Risher bought 5,030 shares of the stock in a transaction on Wednesday, December 10th. The shares were purchased at an average price of $19.80 per share, for a total transaction of $99,594.00. Following the acquisition, the chief executive officer owned 11,802,296 shares in the company, valued at $233,685,460.80. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Prashant Aggarwal sold 96,900 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $2,160,870.00. Following the completion of the transaction, the director directly owned 874,369 shares of the company’s stock, valued at approximately $19,498,428.70. This trade represents a 9.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 187,443 shares of company stock worth $4,178,618 in the last quarter. Insiders own 3.07% of the company’s stock.

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.