International Assets Investment Management LLC Boosts Holdings in Lyft, Inc. (NASDAQ:LYFT)

International Assets Investment Management LLC increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 4,469.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,062 shares of the ride-sharing company’s stock after buying an additional 111,566 shares during the period. International Assets Investment Management LLC’s holdings in Lyft were worth $1,454,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LYFT. Commonwealth Equity Services LLC boosted its holdings in Lyft by 15.1% in the first quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock valued at $767,000 after purchasing an additional 5,184 shares during the period. Swiss National Bank boosted its stake in shares of Lyft by 2.0% in the 1st quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after buying an additional 13,300 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft during the first quarter worth about $41,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Lyft by 430.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after buying an additional 3,154 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Lyft by 492.1% in the first quarter. GSA Capital Partners LLP now owns 85,675 shares of the ride-sharing company’s stock valued at $1,658,000 after acquiring an additional 71,205 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $13.48 on Monday. The stock has a 50 day simple moving average of $12.57 and a 200-day simple moving average of $13.53. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a market cap of $5.53 billion, a price-to-earnings ratio of -84.25 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 (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (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 business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted ($0.14) EPS. The business’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts forecast that Lyft, Inc. will post -0.06 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on LYFT shares. Nomura upgraded shares of Lyft from a “reduce” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $13.00 in a report on Friday, August 23rd. Loop Capital lowered their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Wednesday, August 7th. Barclays lowered their price objective on Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI cut their target price on Lyft from $18.00 to $17.00 and set an “in-line” 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.87.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 value of $119,953.26. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

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.