PNC Financial Services Group Inc. Has $194,000 Stock Holdings in Lyft, Inc. $LYFT

PNC Financial Services Group Inc. raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 27.1% during the second quarter, Holdings Channel reports. The firm owned 12,316 shares of the ride-sharing company’s stock after buying an additional 2,627 shares during the period. PNC Financial Services Group Inc.’s holdings in Lyft were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 1,203 shares during the period. Atwood & Palmer Inc. acquired a new position in Lyft during the second quarter worth $32,000. Bogart Wealth LLC lifted its holdings in shares of Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after acquiring an additional 2,000 shares during the period. SRH Advisors LLC acquired a new stake in shares of Lyft in the 2nd quarter valued at $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Lyft in the 2nd quarter valued at $62,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of the business’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 transaction of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at approximately $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.07% of the company’s stock.

Lyft Stock Up 2.7%

NASDAQ LYFT opened at $20.16 on Friday. The stock has a market capitalization of $8.05 billion, a P/E ratio of 53.05, a price-to-earnings-growth ratio of 2.00 and a beta of 2.36. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average of $21.14 and a 200-day moving average of $17.70.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. Lyft’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. On average, equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Lyft from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Wedbush raised their price objective on shares of Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Mizuho lifted their target price on shares of Lyft from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. TD Cowen increased their price target on Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada raised their price target on Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.85.

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.