New Age Alpha Advisors LLC Buys 179,000 Shares of Lyft, Inc. (NASDAQ:LYFT)

New Age Alpha Advisors LLC lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 17,900.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the ride-sharing company’s stock after buying an additional 179,000 shares during the quarter. Lyft comprises approximately 1.4% of New Age Alpha Advisors LLC’s holdings, making the stock its 18th biggest position. New Age Alpha Advisors LLC’s holdings in Lyft were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Seven Eight Capital LP increased its stake in shares of Lyft by 8.9% during the 2nd quarter. Seven Eight Capital LP now owns 449,268 shares of the ride-sharing company’s stock worth $6,335,000 after purchasing an additional 36,558 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in 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 worth $196,000 after purchasing an additional 1,160 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Lyft by 12.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,425 shares of the ride-sharing company’s stock valued at $203,000 after buying an additional 1,640 shares during the period. Edgestream Partners L.P. bought a new stake in Lyft in the second quarter valued at approximately $396,000. Finally, Primecap Management Co. CA lifted its position in shares of Lyft by 1.5% in the second quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock valued at $88,211,000 after buying an additional 94,710 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the transaction, the president now directly owns 50,778 shares in the company, valued at approximately $711,399.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the completion of the sale, the president now owns 50,778 shares in the company, valued at $711,399.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,164 shares of company stock valued at $470,513. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Down 0.7 %

Shares of NASDAQ LYFT opened at $12.17 on Thursday. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a market cap of $4.91 billion, a PE ratio of -25.89 and a beta of 2.04. The company’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $14.75.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts forecast that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LYFT shares. Wolfe Research started coverage on Lyft in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Melius began coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price target on the stock. Susquehanna cut their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on Lyft from $17.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Twenty-six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.65.

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.