IFP Advisors Inc Has $108,000 Stake in Lyft, Inc. $LYFT

IFP Advisors Inc grew its position in Lyft, Inc. (NASDAQ:LYFT) by 316.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,835 shares of the ride-sharing company’s stock after buying an additional 5,195 shares during the period. IFP Advisors Inc’s holdings in Lyft were worth $108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Lyft by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after buying an additional 2,046,639 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after buying an additional 5,178,118 shares during the period. Rakuten Group Inc. acquired a new stake in shares of Lyft in the 1st quarter valued at $130,434,000. AQR Capital Management LLC increased its stake in shares of Lyft by 103.3% in the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after buying an additional 4,980,876 shares during the period. Finally, Invenomic Capital Management LP grew its stake in shares of Lyft by 75.2% during the first quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company’s stock worth $42,584,000 after purchasing an additional 1,539,388 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Bank of America lifted their price objective on Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, September 18th. TD Cowen lifted their price objective on Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Guggenheim raised Lyft to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Lyft from $16.00 to $21.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.12.

Insider Buying and Selling at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares in the company, valued at $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John David Risher bought 5,926 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. The trade was a 0.05% increase in their position. 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. Company insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of Lyft stock opened at $19.53 on Monday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 81.38, a price-to-earnings-growth ratio of 3.52 and a beta of 2.40. The stock’s 50-day moving average is $18.85 and its 200-day moving average is $15.86. 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 released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities analysts predict that Lyft, Inc. will post 0.22 earnings per share 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.