B. Riley Wealth Advisors Inc. Decreases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

B. Riley Wealth Advisors Inc. cut its stake in Lyft, Inc. (NASDAQ:LYFT) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,526 shares of the ride-sharing company’s stock after selling 5,257 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lyft were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYFT. HighTower Advisors LLC boosted its holdings in Lyft by 3.8% in the third quarter. HighTower Advisors LLC now owns 49,804 shares of the ride-sharing company’s stock valued at $524,000 after purchasing an additional 1,801 shares during the period. Deutsche Bank AG raised its stake in Lyft by 14.8% in the third quarter. Deutsche Bank AG now owns 100,602 shares of the ride-sharing company’s stock valued at $1,060,000 after buying an additional 13,000 shares in the last quarter. Rhumbline Advisers raised its stake in Lyft by 3.7% in the third quarter. Rhumbline Advisers now owns 432,469 shares of the ride-sharing company’s stock valued at $4,558,000 after buying an additional 15,365 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Lyft in the third quarter valued at $121,000. Finally, QRG Capital Management Inc. acquired a new stake in Lyft in the third quarter valued at $118,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Tigress Financial raised their price target on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler restated an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Lyft in a research note on Friday, June 7th. Bank of America upgraded Lyft from an “underperform” rating to a “buy” rating and raised their price target for the company from $15.00 to $20.00 in a research note on Friday, June 7th. DA Davidson lifted their target price on Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.04.

Lyft Price Performance

Shares of LYFT opened at $13.33 on Thursday. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The stock’s 50 day moving average is $15.82 and its two-hundred day moving average is $15.77. The firm has a market capitalization of $5.38 billion, a PE ratio of -28.36 and a beta of 2.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Research analysts anticipate that Lyft, Inc. will post -0.19 earnings per share for the current year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total transaction of $131,046.42. Following the sale, the director now owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the sale, the president now owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $131,046.42. Following the sale, the director now directly owns 924,621 shares in the company, valued at approximately $15,293,231.34. The disclosure for this sale can be found here. Insiders have sold 36,833 shares of company stock valued at $590,509 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Lyft 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.