National Bank of Canada FI Sells 969,610 Shares of Lyft, Inc. (NASDAQ:LYFT)

National Bank of Canada FI trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 81.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 223,300 shares of the ride-sharing company’s stock after selling 969,610 shares during the quarter. National Bank of Canada FI’s holdings in Lyft were worth $2,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Lyft by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after buying an additional 1,160 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Lyft by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after acquiring an additional 1,315 shares in the last quarter. CWM LLC lifted its stake in Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after acquiring an additional 1,457 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Lyft by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after acquiring an additional 1,477 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on LYFT shares. Benchmark restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. BMO Capital Markets raised their target price on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Twenty-eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.77.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares in the company, valued at $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 have sold 26,666 shares of company stock valued at $454,770 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

Lyft Trading Down 4.8 %

Shares of LYFT stock opened at $14.14 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -88.38, a PEG ratio of 4.47 and a beta of 2.09. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a fifty day moving average price of $15.32 and a 200-day moving average price of $13.59.

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

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.