Ieq Capital LLC Has $7.29 Million Holdings in Lyft, Inc. $LYFT

Ieq Capital LLC lifted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 35.1% in the 1st quarter, Holdings Channel reports. The firm owned 613,875 shares of the ride-sharing company’s stock after buying an additional 159,348 shares during the quarter. Ieq Capital LLC’s holdings in Lyft were worth $7,287,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LYFT. Rakuten Group Inc. bought a new position in Lyft in the 1st quarter worth $130,434,000. Two Sigma Advisers LP raised its holdings in Lyft by 828.5% in the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company’s stock worth $85,947,000 after acquiring an additional 5,945,000 shares during the period. Ameriprise Financial Inc. raised its holdings in Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after acquiring an additional 5,178,118 shares during the period. Two Sigma Investments LP raised its holdings in Lyft by 156.9% in the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock worth $103,524,000 after acquiring an additional 4,901,358 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Lyft by 83,744.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company’s stock worth $37,331,000 after acquiring an additional 3,141,240 shares during the period. Institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LYFT shares. Susquehanna dropped their target price on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. UBS Group lifted their target price on shares of Lyft from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Friday, May 9th. Roth Capital upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Thursday, August 7th. Finally, The Goldman Sachs Group upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Friday, May 9th. Nine investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus price target of $16.83.

Insider Transactions at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares in the company, valued at $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.07% of the company’s stock.

Lyft Stock Performance

NASDAQ LYFT opened at $16.14 on Friday. The stock has a market cap of $6.56 billion, a P/E ratio of 67.25, a PEG ratio of 2.65 and a beta of 2.26. The company’s 50-day simple moving average is $15.13 and its 200 day simple moving average is $13.92. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $19.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. As a group, research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

About Lyft

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.