UBS Group AG lifted its stake in shares of LYFT Inc (NASDAQ:LYFT) by 80.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,508 shares of the ride-sharing company’s stock after purchasing an additional 123,336 shares during the quarter. UBS Group AG owned about 0.10% of LYFT worth $18,235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. L & S Advisors Inc increased its position in LYFT by 2.4% in the 2nd quarter. L & S Advisors Inc now owns 13,308 shares of the ride-sharing company’s stock valued at $874,000 after acquiring an additional 313 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in LYFT in the 1st quarter valued at approximately $39,000. RPG Investment Advisory LLC increased its position in LYFT by 500.0% in the 2nd quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 500 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in LYFT in the 2nd quarter valued at approximately $34,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in LYFT in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 34.55% of the company’s stock.
Several analysts recently commented on LYFT shares. Cowen raised their target price on LYFT from $78.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. ValuEngine upgraded LYFT from a “hold” rating to a “buy” rating in a research report on Tuesday. Susquehanna Bancshares upgraded LYFT from a “neutral” rating to a “positive” rating and raised their target price for the company from $57.00 to $80.00 in a research report on Tuesday, June 11th. Deutsche Bank assumed coverage on LYFT in a research note on Thursday, September 5th. They set a “buy” rating and a $70.00 price target for the company. Finally, Wedbush raised LYFT from a “neutral” rating to an “outperform” rating and increased their price target for the company from $67.00 to $75.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. LYFT presently has an average rating of “Buy” and an average target price of $71.15.
LYFT (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($1.66) by $0.98. The company had revenue of $867.30 million for the quarter, compared to the consensus estimate of $809.64 million. LYFT’s revenue was up 71.8% on a year-over-year basis. On average, equities research analysts anticipate that LYFT Inc will post -11.38 EPS for the current fiscal year.
In other news, General Counsel Kristin Sverchek sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $47.97, for a total value of $287,820.00. Following the completion of the sale, the general counsel now owns 206,969 shares of the company’s stock, valued at $9,928,302.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ran I. Makavy sold 70,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $52.11, for a total value of $3,647,700.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,000 shares of company stock valued at $5,563,370.
LYFT Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
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