SeaBridge Investment Advisors LLC Acquires 245 Shares of Lyft, Inc. (NASDAQ:LYFT)

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.

Shares of Lyft stock traded down $0.37 during trading on Wednesday, hitting $50.16. The company’s stock had a trading volume of 73,417 shares, compared to its average volume of 6,450,208. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 1.14. The company has a fifty day simple moving average of $52.22 and a two-hundred day simple moving average of $56.76. The company has a market capitalization of $16.82 billion, a PE ratio of -10.12 and a beta of 2.28. Lyft, Inc. has a 52 week low of $21.34 and a 52 week high of $68.28.

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 Profile

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.

Featured Story: Stock Symbols Definition, Examples, Lookup

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFT).

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.