Activest Wealth Management increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 139.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,744 shares of the ride-sharing company’s stock after purchasing an additional 1,600 shares during the quarter. Activest Wealth Management’s holdings in Lyft were worth $36,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Krilogy Financial LLC increased its position in shares of Lyft by 419.1% during the 2nd quarter. Krilogy Financial LLC now owns 33,679 shares of the ride-sharing company’s stock valued at $447,000 after purchasing an additional 27,191 shares during the last quarter. Compass Advisory Group LLC boosted its holdings in Lyft by 26.9% during the 2nd quarter. Compass Advisory Group LLC now owns 11,463 shares of the ride-sharing company’s stock valued at $152,000 after acquiring an additional 2,431 shares during the period. Vista Wealth Management Group LLC boosted its holdings in Lyft by 2.4% during the 2nd quarter. Vista Wealth Management Group LLC now owns 87,718 shares of the ride-sharing company’s stock valued at $1,097,000 after acquiring an additional 2,058 shares during the period. Private Advisor Group LLC boosted its holdings in Lyft by 13.6% during the 2nd quarter. Private Advisor Group LLC now owns 16,716 shares of the ride-sharing company’s stock valued at $222,000 after acquiring an additional 2,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Lyft by 59.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 85,233 shares of the ride-sharing company’s stock valued at $1,132,000 after acquiring an additional 31,691 shares during the period. Institutional investors own 76.49% of the company’s stock.
In related news, insider Kristin Sverchek sold 13,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $18.98, for a total value of $246,740.00. Following the completion of the sale, the insider now owns 70,350 shares of the company’s stock, valued at $1,335,243. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.31% of the company’s stock.
Lyft Price Performance
Lyft (NASDAQ:LYFT – Get Rating) last released its earnings results on Thursday, August 4th. The ride-sharing company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.18. The business had revenue of $990.70 million for the quarter, compared to the consensus estimate of $988.14 million. Lyft had a negative return on equity of 46.36% and a negative net margin of 24.44%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.68) earnings per share. On average, sell-side analysts expect that Lyft, Inc. will post -1.42 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
LYFT has been the subject of a number of recent analyst reports. Wedbush dropped their price objective on Lyft from $32.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, August 5th. BTIG Research lowered their target price on Lyft from $60.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. The Goldman Sachs Group lowered their target price on Lyft from $36.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, June 9th. Guggenheim lowered their target price on Lyft from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, August 15th. Finally, Atlantic Securities lowered their target price on Lyft to $24.00 in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.
Lyft Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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