Transcend Capital Advisors LLC Makes New $329,000 Investment in Lyft, Inc. $LYFT

Transcend Capital Advisors LLC acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,901 shares of the ride-sharing company’s stock, valued at approximately $329,000.

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

Insiders Place Their Bets

In related news, CEO John David Risher bought 5,926 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the sale, the insider directly owned 835,782 shares of the company’s stock, valued at $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 74,427 shares of company stock valued at $1,252,686 in the last three months. 3.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LYFT has been the subject of several research analyst reports. Wall Street Zen downgraded Lyft from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Wedbush set a $17.00 target price on Lyft and gave the stock a “neutral” rating in a research note on Wednesday. Susquehanna reduced their target price on Lyft from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Canaccord Genuity Group upped their target price on Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lyft from $16.00 to $21.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $19.68.

Lyft Stock Down 0.0%

NASDAQ LYFT opened at $20.02 on Thursday. The business has a fifty day moving average price of $19.71 and a 200 day moving average price of $16.39. 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 quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $8.14 billion, a P/E ratio of 83.42, a P/E/G ratio of 3.61 and a beta of 2.40.

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