Quarry LP Raises Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Quarry LP boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 4,032.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,554 shares of the ride-sharing company’s stock after buying an additional 3,468 shares during the quarter. Quarry LP’s holdings in Lyft were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. FinTrust Capital Advisors LLC boosted its position in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Lyft during the 4th quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in Lyft in the 2nd quarter valued at about $35,000. Brown Brothers Harriman & Co. purchased a new stake in Lyft during the second quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Lyft during the fourth quarter worth about $40,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of Lyft 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 transaction, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lyft news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock valued at $380,048 in the last ninety days. Insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Gordon Haskett upgraded shares of Lyft from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Wolfe Research started coverage on Lyft in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. The Goldman Sachs Group lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Wednesday, August 7th. Twenty-six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average price target of $15.65.

Lyft Stock Performance

Shares of Lyft stock opened at $12.57 on Friday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -26.74 and a beta of 2.04. The firm’s fifty day simple moving average is $11.59 and its 200-day simple moving average is $14.35. 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.

Lyft (NASDAQ:LYFT) last posted 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. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted ($0.14) earnings per share. Lyft’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, equities analysts forecast that Lyft, Inc. will post -0.16 earnings per share 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.