Private Advisor Group LLC Sells 50,415 Shares of Lyft, Inc. (NASDAQ:LYFT)

Private Advisor Group LLC lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 72.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,282 shares of the ride-sharing company’s stock after selling 50,415 shares during the quarter. Private Advisor Group LLC’s holdings in Lyft were worth $246,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Lyft during the 1st quarter valued at about $41,000. Janney Montgomery Scott LLC increased its stake in shares of Lyft by 48.0% during the first quarter. Janney Montgomery Scott LLC now owns 78,609 shares of the ride-sharing company’s stock valued at $1,521,000 after purchasing an additional 25,500 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Lyft by 24.4% during the first quarter. Empowered Funds LLC now owns 16,557 shares of the ride-sharing company’s stock valued at $320,000 after purchasing an additional 3,247 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lyft in the 1st quarter worth approximately $1,262,000. Finally, Swiss National Bank grew its stake in shares of Lyft by 2.0% in the 1st quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after buying an additional 13,300 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Lyft in a research note on Thursday. Royal Bank of Canada lowered their price target on Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America increased their price objective on shares of Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday. Nomura Securities raised shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Twenty-eight equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.03.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on 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 directly owns 929,638 shares in the company, valued at $10,523,502.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the transaction, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

Shares of Lyft stock opened at $17.69 on Friday. The stock has a market cap of $7.26 billion, a P/E ratio of -111.81 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s fifty day moving average is $12.71 and its 200 day moving average is $13.50. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. Sell-side analysts anticipate that Lyft, Inc. will post -0.06 earnings per share for the current year.

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.