Inceptionr LLC Buys New Stake in Lyft, Inc. $LYFT

Inceptionr LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 51,731 shares of the ride-sharing company’s stock, valued at approximately $688,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft during the 4th quarter valued at about $26,000. Bessemer Group Inc. lifted its holdings in shares of Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after buying an additional 2,500 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Lyft in the fourth quarter worth about $40,000. Huntington National Bank boosted its stake in shares of Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 1,374 shares during the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of Lyft in the first quarter worth about $43,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYFT has been the subject of several recent research reports. Truist Financial lifted their price target on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Citigroup assumed coverage on Lyft in a research report on Wednesday, June 17th. They issued a “buy” rating on the stock. Royal Bank Of Canada lowered their price objective on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. DA Davidson cut their target price on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Roth Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Lyft in a report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.40.

Lyft Price Performance

NASDAQ:LYFT opened at $14.20 on Friday. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.39 billion, a PE ratio of 2.07, a price-to-earnings-growth ratio of 0.83 and a beta of 1.80. The stock’s 50-day moving average price is $14.46 and its 200-day moving average price is $14.77.

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

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider directly owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the sale, the chief financial officer owned 705,979 shares of the company’s stock, valued at $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock valued at $637,456 in the last three months. 0.92% of the stock is currently owned by company insiders.

About Lyft

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.