Allworth Financial LP Purchases 1,852 Shares of Lyft, Inc. (NASDAQ:LYFT)

Allworth Financial LP grew its position in Lyft, Inc. (NASDAQ:LYFT) by 34.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,282 shares of the ride-sharing company’s stock after purchasing an additional 1,852 shares during the quarter. Allworth Financial LP’s holdings in Lyft were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LYFT. FinTrust Capital Advisors LLC raised its position in shares of Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the period. International Assets Investment Management LLC bought a new position in shares of Lyft in the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. bought a new position in shares of Lyft in the second quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of Lyft in the first quarter valued at approximately $41,000. Finally, Quarry LP raised its position in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 5.1 %

NASDAQ:LYFT opened at $12.97 on Friday. The stock’s fifty day moving average price is $12.54 and its two-hundred day moving average price is $13.62. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -27.60 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned ($0.14) EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts anticipate that Lyft, Inc. will post -0.09 EPS for the current year.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 10,323 shares of the 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock valued at $380,048 in the last 90 days. 3.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $13.00 target price on shares of Lyft in a research report on Monday, October 7th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. Melius Research assumed coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.87.

About Lyft

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.