Steward Partners Investment Advisory LLC Trims Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Steward Partners Investment Advisory LLC decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,022 shares of the ride-sharing company’s stock after selling 860 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lyft were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new stake in Lyft during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lyft during the 4th quarter valued at about $453,000. Jones Financial Companies Lllp grew its position in shares of Lyft by 50.9% during the 4th quarter. Jones Financial Companies Lllp now owns 15,514 shares of the ride-sharing company’s stock valued at $200,000 after acquiring an additional 5,234 shares during the period. US Bancorp DE grew its position in shares of Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after acquiring an additional 1,045 shares during the period. Finally, Private Capital Management LLC acquired a new stake in shares of Lyft during the 3rd quarter valued at about $159,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on LYFT. Citigroup restated an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. Barclays dropped their target price on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. DA Davidson dropped their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their target price on Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Roth Capital restated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.13.

Lyft Stock Up 5.8 %

Lyft stock opened at $11.92 on Monday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The firm has a 50 day moving average price of $13.24 and a 200 day moving average price of $13.79. The company has a market capitalization of $4.98 billion, a PE ratio of 198.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its board has approved a stock buyback program on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,407 shares of company stock worth $203,778. Insiders own 3.07% of the company’s stock.

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.