Sanctuary Advisors LLC Raises Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Sanctuary Advisors LLC raised its stake in Lyft, Inc. (NASDAQ:LYFT) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 28,454 shares of the ride-sharing company’s stock after buying an additional 969 shares during the quarter. Sanctuary Advisors LLC’s holdings in Lyft were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LYFT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Lyft by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after purchasing an additional 80,675 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Lyft during the 3rd quarter worth approximately $90,604,000. Primecap Management Co. CA increased its stake in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after purchasing an additional 235,510 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. increased its stake in shares of Lyft by 84.8% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of recent research reports. Susquehanna raised their price objective 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. Tigress Financial raised their price objective on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wedbush reissued a “neutral” rating and set a $20.00 price objective (up from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Barclays lifted their target price on shares of Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and an average 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 business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 10,919 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $13.31 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The firm has a 50-day simple moving average of $15.46 and a 200 day simple moving average of $13.46. The company has a market cap of $5.52 billion, a PE ratio of -83.19, a P/E/G ratio of 4.10 and a beta of 2.08.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current year.

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.