Bogart Wealth LLC Raises Stock Holdings in Lyft, Inc. $LYFT

Bogart Wealth LLC lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 1,242.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,161 shares of the ride-sharing company’s stock after purchasing an additional 2,000 shares during the period. Bogart Wealth LLC’s holdings in Lyft were worth $34,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LYFT. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Lyft by 162.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares during the period. Atwood & Palmer Inc. bought a new position in Lyft during the second quarter worth about $32,000. GAMMA Investing LLC raised its position in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lyft in the first quarter valued at approximately $35,000. Finally, SRH Advisors LLC purchased a new stake in shares of Lyft during the 2nd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Oppenheimer increased their price target on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Guggenheim raised shares of Lyft to a “strong-buy” rating in a research note on Wednesday, October 15th. Cowen reaffirmed a “buy” rating on shares of Lyft in a report on Wednesday, September 24th. Finally, Wells Fargo & Company increased their target price on shares of Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and one has issued 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 $19.25.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the transaction, the insider directly owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John David Risher bought 5,926 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 74,427 shares of company stock worth $1,252,686 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $20.64 on Wednesday. The firm has a 50 day simple moving average of $19.12 and a two-hundred day simple moving average of $15.95. The stock has a market cap of $8.39 billion, a PE ratio of 86.00, a P/E/G ratio of 3.64 and a beta of 2.40. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

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). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $0.24 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.