Venture Visionary Partners LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 20,867 shares of the ride-sharing company’s stock, valued at approximately $266,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after acquiring an additional 993 shares during the period. FinTrust Capital Advisors LLC raised its holdings in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of 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 worth $196,000 after acquiring an additional 1,160 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Lyft by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after acquiring an additional 1,437 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.
Lyft Price Performance
Lyft stock opened at $13.66 on Thursday. Lyft, Inc. has a one year low of $8.85 and a one year high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The business has a fifty day moving average of $12.27 and a two-hundred day moving average of $13.80. The company has a market cap of $5.51 billion, a P/E ratio of -29.06 and a beta of 2.04.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Melius started coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group upped their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Barclays cut their target price on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.59.
View Our Latest Research Report on Lyft
Insider Activity
In other news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Logan Green sold 10,323 shares of Lyft stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock worth $380,048 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.
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.
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