Creative Planning Lowers Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Creative Planning trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.5% in the third quarter, HoldingsChannel.com reports. The fund owned 15,840 shares of the ride-sharing company’s stock after selling 2,272 shares during the period. Creative Planning’s holdings in Lyft were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYFT. Price T Rowe Associates Inc. MD boosted its holdings in Lyft by 592.3% during the 1st 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 acquiring an additional 1,218,620 shares during the period. National Bank of Canada FI boosted its stake in shares of Lyft by 27,739.2% in the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after buying an additional 1,188,625 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after buying an additional 812,926 shares during the period. Vanguard Group Inc. boosted its stake in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after buying an additional 782,736 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock valued at $11,767,000 after buying an additional 521,537 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Trading Up 4.6 %

NASDAQ:LYFT opened at $18.59 on Tuesday. The firm has a market cap of $7.62 billion, a P/E ratio of -116.19 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. The stock’s 50 day simple moving average is $12.96 and its 200-day simple moving average is $13.49. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. Equities analysts anticipate that Lyft, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction 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 transaction, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lyft news, 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 transaction of $119,953.26. Following the sale, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction on 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 in the company, valued at $8,988,544.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock valued at $380,048 over the last quarter. Company insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

LYFT has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $17.00) on shares of Lyft in a research note on Thursday, November 7th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. UBS Group lifted their price objective on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Melius Research assumed coverage on Lyft in a research note on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Finally, DA Davidson boosted their target price on Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twenty-eight investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.48.

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.