Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in Lyft, Inc. (NASDAQ:LYFT) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,866,572 shares of the ride-sharing company’s stock after selling 218,104 shares during the quarter. Geode Capital Management LLC’s holdings in Lyft were worth $74,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in Lyft in the second quarter worth $388,000. New York State Teachers Retirement System acquired a new position in shares of Lyft in the 3rd quarter valued at about $423,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lyft during the 2nd quarter valued at about $3,349,000. Private Advisor Group LLC raised its stake in Lyft by 300.9% during the second quarter. Private Advisor Group LLC now owns 69,697 shares of the ride-sharing company’s stock worth $983,000 after acquiring an additional 52,311 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in Lyft in the third quarter worth about $716,000. 83.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the transaction, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,242 shares of company stock valued at $427,330. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Down 0.1 %

LYFT stock opened at $13.57 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $5.63 billion, a P/E ratio of -84.81, a P/E/G ratio of 4.47 and a beta of 2.09. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company’s 50 day simple moving average is $15.44 and its 200-day simple moving average is $13.52.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group increased their price target on Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley increased their target price on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Truist Financial boosted their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price objective (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their target price on shares of Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.77.

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.