True Wealth Design LLC Takes Position in Lyft, Inc. (NASDAQ:LYFT)

True Wealth Design LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,149 shares of the ride-sharing company’s stock, valued at approximately $27,000.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Lyft during the 3rd quarter valued at approximately $90,604,000. National Bank of Canada FI grew its stake in shares of Lyft by 27,739.2% in the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after acquiring an additional 1,188,625 shares during the last quarter. Bank of New York Mellon Corp increased its position in Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after acquiring an additional 812,926 shares during the period. SG Americas Securities LLC raised its stake in Lyft by 401.2% during the 2nd quarter. SG Americas Securities LLC now owns 326,779 shares of the ride-sharing company’s stock valued at $4,608,000 after purchasing an additional 261,582 shares during the last quarter. Finally, Huber Capital Management LLC boosted its holdings in Lyft by 62.1% in the 2nd quarter. Huber Capital Management LLC now owns 631,189 shares of the ride-sharing company’s stock valued at $8,900,000 after purchasing an additional 241,814 shares during the period. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYFT. Roth Mkm boosted their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Susquehanna raised their price target on shares of Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. UBS Group upped their price objective on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $17.55.

Lyft Trading Down 1.1 %

NASDAQ LYFT opened at $17.17 on Tuesday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The stock has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $13.56. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $7.12 billion, a PE ratio of -107.31, a P/E/G ratio of 5.04 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company posted ($0.02) EPS. Lyft’s revenue for the quarter was up 31.6% on a year-over-year basis. Research analysts forecast that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now owns 760,089 shares in the company, valued at $9,121,068. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,909 shares of company stock valued at $505,686 in the last quarter. Company insiders own 3.07% of the company’s stock.

Lyft Company Profile

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.