Victory Capital Management Inc. Has $1.54 Million Stake in Lyft, Inc. (NASDAQ:LYFT)

Victory Capital Management Inc. increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,443 shares of the ride-sharing company’s stock after acquiring an additional 2,476 shares during the quarter. Victory Capital Management Inc.’s holdings in Lyft were worth $1,536,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after acquiring an additional 1,457 shares during the period. Comerica Bank boosted its stake in Lyft by 310.3% in the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after purchasing an additional 77,578 shares during the period. Sanctuary Advisors LLC acquired a new position in Lyft in the 2nd quarter valued at $388,000. New York State Teachers Retirement System bought a new position in Lyft during the 3rd quarter worth $423,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Lyft during the second quarter worth $3,349,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target (up from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Morgan Stanley raised their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and cut their price target for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. DA Davidson raised their price objective on Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.55.

Lyft Trading Up 6.6 %

NASDAQ LYFT opened at $17.89 on Tuesday. The stock has a market capitalization of $7.42 billion, a P/E ratio of -111.81, a P/E/G ratio of 4.87 and a beta of 2.04. The business has a 50 day simple moving average of $14.30 and a 200 day simple moving average of $13.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. Research analysts expect that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the sale, the insider now owns 760,089 shares in the company, valued at $9,121,068. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,990 shares of company stock valued at $317,333 in the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

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.