Lyft, Inc. $LYFT Shares Bought by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT) by 8.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,946,512 shares of the ride-sharing company’s stock after buying an additional 156,991 shares during the quarter. Ieq Capital LLC’s holdings in Lyft were worth $37,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYFT. Brown Brothers Harriman & Co. raised its stake in shares of Lyft by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after buying an additional 639 shares during the last quarter. CI Investments Inc. raised its stake in shares of Lyft by 39.1% during the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 653 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock worth $248,000 after buying an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC raised its stake in shares of Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock worth $352,000 after buying an additional 756 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after buying an additional 771 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $354,915.00. Following the completion of the transaction, the insider owned 916,022 shares of the company’s stock, valued at $13,740,330. This represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This represents a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,196 shares of company stock valued at $788,521 in the last 90 days. 0.92% of the stock is currently owned by insiders.

Lyft Price Performance

NASDAQ:LYFT opened at $13.54 on Friday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 1.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.82. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $13.90 and its two-hundred day moving average is $15.91. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $0.01 earnings per share. Lyft’s revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts expect that Lyft, Inc. will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

LYFT has been the subject of several research reports. Mizuho cut their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, May 8th. DA Davidson reduced their target price on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a report on Monday, May 18th. Finally, Oppenheimer set a $20.00 target price on shares of Lyft in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus price target of $18.83.

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.