Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Quest Partners LLC

Quest Partners LLC increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 28,545.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,635 shares of the ride-sharing company’s stock after purchasing an additional 24,549 shares during the quarter. Quest Partners LLC’s holdings in Lyft were worth $347,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in Lyft in the fourth quarter valued at about $94,687,000. Kodai Capital Management LP acquired a new stake in Lyft in the fourth quarter valued at approximately $26,069,000. Bank of Nova Scotia acquired a new stake in Lyft in the fourth quarter valued at approximately $21,433,000. Price T Rowe Associates Inc. MD raised its stake in shares of Lyft by 592.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after purchasing an additional 1,218,620 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Lyft by 27,739.2% during the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after purchasing an additional 1,188,625 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 2.3 %

LYFT opened at $11.35 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft, Inc. has a 12 month low of $8.85 and a 12 month high of $20.82. The stock’s 50 day moving average price is $11.65 and its 200 day moving average price is $14.84. The stock has a market cap of $4.58 billion, a P/E ratio of -24.15 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. As a group, research analysts predict that Lyft, Inc. will post -0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush dropped their price target on shares of Lyft from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Bank of America raised Lyft from an “underperform” rating to a “buy” rating and increased their price target for the company from $15.00 to $20.00 in a report on Friday, June 7th. TD Cowen dropped their price objective on Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Susquehanna reduced their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus price target of $15.65.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at $3,843,779.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. The transaction was disclosed in a legal 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 transaction of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares in the company, valued at $3,843,779.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,497 shares of company stock worth $392,157. 3.07% of the stock is owned by corporate insiders.

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.