Allspring Global Investments Holdings LLC Grows Stake in Lyft, Inc. (NASDAQ:LYFT)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 2,103.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,765 shares of the ride-sharing company’s stock after acquiring an additional 18,868 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lyft were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LYFT. Commonwealth Equity Services LLC lifted its stake in shares of Lyft by 15.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock valued at $767,000 after buying an additional 5,184 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Lyft by 60.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 604,048 shares of the ride-sharing company’s stock worth $11,443,000 after acquiring an additional 227,846 shares during the period. Janney Montgomery Scott LLC increased its holdings in Lyft by 48.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 78,609 shares of the ride-sharing company’s stock worth $1,521,000 after acquiring an additional 25,500 shares during the period. FinTrust Capital Advisors LLC increased its holdings in 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 acquiring an additional 1,000 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in Lyft by 492.1% during the 1st quarter. GSA Capital Partners LLP now owns 85,675 shares of the ride-sharing company’s stock worth $1,658,000 after acquiring an additional 71,205 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

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

Analyst Ratings Changes

LYFT has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Barclays decreased their target price on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Lyft in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Truist Financial decreased their price target on shares of Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Benchmark initiated coverage on shares of Lyft in a report on Friday, October 25th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $15.87.

Lyft Trading Up 3.9 %

Shares of LYFT opened at $13.48 on Monday. The stock has a market capitalization of $5.53 billion, a P/E ratio of -84.25 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a fifty day simple moving average of $12.57 and a two-hundred day simple moving average of $13.53. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted ($0.14) EPS. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, research analysts anticipate that Lyft, Inc. will post -0.06 EPS 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.