West Tower Group LLC Has $883,000 Stock Holdings in Lyft, Inc. $LYFT

West Tower Group LLC trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,000 shares of the ride-sharing company’s stock after selling 8,000 shares during the quarter. Lyft accounts for 1.9% of West Tower Group LLC’s portfolio, making the stock its 15th largest position. West Tower Group LLC’s holdings in Lyft were worth $883,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LYFT. MassMutual Private Wealth & Trust FSB lifted its holdings in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Lyft during the second quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Lyft in the 1st quarter valued at approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock valued at $46,000 after purchasing an additional 1,769 shares during the period. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Citigroup restated a “hold” rating and set a $14.00 price objective (down from $22.00) on shares of Lyft in a report on Friday, June 27th. Bank of America raised their price objective on shares of Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Wells Fargo & Company upped their target price on shares of Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Finally, Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.12.

Lyft Stock Down 1.7%

Lyft stock opened at $19.53 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $23.50. The company has a fifty day simple moving average of $18.85 and a 200 day simple moving average of $15.86. The company has a market cap of $7.94 billion, a P/E ratio of 81.38, a price-to-earnings-growth ratio of 3.52 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results 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 return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John David Risher acquired 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 74,427 shares of company stock valued at $1,252,686. 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.