Kapitalo Investimentos Ltda Invests $34,000 in Lyft, Inc. (NASDAQ:LYFT)

Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,286 shares of the ride-sharing company’s stock, valued at approximately $34,000.

A number of other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC grew its holdings in Lyft by 3.8% during the third quarter. HighTower Advisors LLC now owns 49,804 shares of the ride-sharing company’s stock valued at $524,000 after purchasing an additional 1,801 shares during the last quarter. Deutsche Bank AG grew its stake in Lyft by 14.8% in the 3rd quarter. Deutsche Bank AG now owns 100,602 shares of the ride-sharing company’s stock valued at $1,060,000 after buying an additional 13,000 shares during the last quarter. Rhumbline Advisers raised its holdings in Lyft by 3.7% in the 3rd quarter. Rhumbline Advisers now owns 432,469 shares of the ride-sharing company’s stock worth $4,558,000 after acquiring an additional 15,365 shares during the period. Kestra Advisory Services LLC acquired a new position in Lyft during the 3rd quarter worth $121,000. Finally, QRG Capital Management Inc. bought a new stake in Lyft during the third quarter valued at about $118,000. 83.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the sale, the president now directly owns 60,778 shares in the company, valued at $1,063,615. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 7,923 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $131,046.42. Following the completion of the sale, the director now owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,833 shares of company stock valued at $590,509. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Down 0.2 %

Shares of LYFT stock opened at $13.75 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The firm has a 50-day moving average price of $16.11 and a 200 day moving average price of $15.70.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. On average, research analysts predict that Lyft, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LYFT shares. DA Davidson lifted their price objective on Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Tigress Financial lifted their price target on Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group increased their price objective on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Wedbush raised their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Lyft in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.04.

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.