Venture Visionary Partners LLC Purchases New Shares in Lyft, Inc. (NASDAQ:LYFT)

Venture Visionary Partners LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) 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.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, analysts predict that Lyft, Inc. will post -0.09 earnings per share for the current fiscal year.

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.

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.