Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. trimmed its position in Lyft, Inc. (NASDAQ:LYFT) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,329 shares of the ride-sharing company’s stock after selling 5,660 shares during the period. Lecap Asset Management Ltd.’s holdings in Lyft were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LYFT. Vanguard Group Inc. lifted its position in shares of Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares in the last quarter. Norges Bank acquired a new position in shares of Lyft in the fourth quarter valued at approximately $94,687,000. Jacobs Levy Equity Management Inc. raised its position in Lyft by 1.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after buying an additional 63,461 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after purchasing an additional 141,823 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after buying an additional 1,080,009 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 3.5 %

Shares of LYFT traded up $0.40 during trading hours on Wednesday, hitting $11.69. 13,340,208 shares of the stock were exchanged, compared to its average volume of 15,842,496. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $4.72 billion, a P/E ratio of -24.87 and a beta of 2.06. The business has a 50-day moving average of $12.41 and a 200-day moving average of $15.27. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned ($0.14) earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. On average, research analysts expect that Lyft, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LYFT shares. Wells Fargo & Company dropped their price objective on Lyft from $17.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets decreased their price objective on Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Citigroup reduced their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Finally, Loop Capital raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.87.

Insider Activity at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the transaction, the chief accounting officer now owns 351,853 shares in the company, valued at $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at approximately $5,513,536.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 3,327 shares of Lyft stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total value of $52,366.98. Following the sale, the director now directly owns 921,294 shares in the company, valued at $14,501,167.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,410 shares of company stock valued at $387,668. Company insiders own 3.07% of the company’s stock.

About Lyft

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.