Pitcairn Co. Acquires New Holdings in Lyft, Inc. (NASDAQ:LYFT)

Pitcairn Co. acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 10,963 shares of the ride-sharing company’s stock, valued at approximately $140,000.

Several other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its position in Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Lyft by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after buying an additional 1,160 shares during the period. QRG Capital Management Inc. increased its stake in Lyft by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after buying an additional 1,437 shares during the period. CWM LLC increased its stake in Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after buying an additional 1,457 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after buying an additional 1,477 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Performance

LYFT stock opened at $17.18 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of -107.38, a P/E/G ratio of 5.19 and a beta of 2.04. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The firm has a 50 day moving average of $14.60 and a two-hundred day moving average of $13.61.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, equities analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on LYFT. Tigress Financial raised their target price on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wedbush reissued a “neutral” rating and set a $20.00 target price (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Loop Capital lowered their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their price objective on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.55.

Insiders Place Their Bets

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the sale, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,990 shares of company stock valued at $317,333 over the last ninety days. Corporate insiders own 3.07% of the company’s stock.

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.