Lyft, Inc. (NASDAQ:LYFT) Stake Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,280 shares of the ride-sharing company’s stock after buying an additional 1,477 shares during the period. Dimensional Fund Advisors LP’s holdings in Lyft were worth $2,612,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. C M Bidwell & Associates Ltd. purchased a new position in Lyft during the 4th quarter valued at about $40,000. Bridgefront Capital LLC bought a new stake in Lyft in the fourth quarter valued at $498,000. Oracle Alpha Inc. bought a new stake in shares of Lyft in the 4th quarter worth about $446,000. Ogborne Capital Management LLC bought a new position in Lyft during the 4th quarter valued at about $14,990,000. Finally, Quarry LP acquired a new position in Lyft in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LYFT. Wolfe Research began coverage on Lyft in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Melius initiated coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and set a $13.00 price objective on shares of Lyft in a research note on Monday. Finally, TD Cowen dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a research 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.65.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the stock in a transaction dated Tuesday, August 27th. The shares were 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 owns 764,332 shares in the company, valued at $8,988,544.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 10,323 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. This 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.

Lyft Stock Down 0.8 %

Lyft stock opened at $12.41 on Friday. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -26.40 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The stock has a 50 day moving average of $11.62 and a two-hundred day moving average of $14.17.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.27% and a negative return on equity of 8.57%. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.14) earnings per share. As a group, research analysts expect that Lyft, Inc. will post -0.16 earnings per share for the current year.

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.