SeaBridge Investment Advisors LLC increased its position in Lyft, Inc. (NASDAQ:LYFT) by 0.8% in the second quarter, Holdings Channel.com reports. The firm owned 30,925 shares of the ride-sharing company’s stock after acquiring an additional 245 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Lyft were worth $1,870,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. acquired a new position in shares of Lyft during the 2nd quarter worth about $30,000. Berman Capital Advisors LLC increased its stake in Lyft by 75.7% in the 1st quarter. Berman Capital Advisors LLC now owns 543 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 234 shares during the last quarter. McCarthy Asset Management Inc. bought a new position in shares of Lyft in the 2nd quarter valued at about $39,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Lyft in the 1st quarter valued at about $39,000. Finally, Sierra Capital LLC bought a new position in shares of Lyft in the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.
A number of research analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of Lyft in a research report on Monday. They issued a “buy” rating and a $64.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday, August 4th. Citigroup lifted their target price on shares of Lyft from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Gordon Haskett began coverage on shares of Lyft in a report on Monday, August 2nd. They set a “hold” rating and a $59.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Lyft from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 4th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $69.94.
In related news, CEO Logan Green sold 36,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $48.70, for a total transaction of $1,753,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kristin Sverchek sold 15,977 shares of the stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $48.71, for a total transaction of $778,239.67. The disclosure for this sale can be found here. 5.77% of the stock is owned by company insiders.
Lyft, Inc engages in the provision and management of online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.
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