Sei Investments Co. Sells 33,380 Shares of Lyft, Inc. (NASDAQ:LYFT)

Sei Investments Co. decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 33.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,296 shares of the ride-sharing company’s stock after selling 33,380 shares during the period. Sei Investments Co.’s holdings in Lyft were worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its holdings in Lyft by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after purchasing an additional 167,400 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Lyft during the 2nd quarter valued at approximately $72,000. Intech Investment Management LLC increased its holdings in Lyft by 33.0% in the 2nd quarter. Intech Investment Management LLC now owns 160,619 shares of the ride-sharing company’s stock worth $2,265,000 after acquiring an additional 39,811 shares in the last quarter. XTX Topco Ltd bought a new stake in Lyft during the 2nd quarter worth approximately $580,000. Finally, New Age Alpha Advisors LLC lifted its holdings in Lyft by 17,900.0% during the second quarter. New Age Alpha Advisors LLC now owns 180,000 shares of the ride-sharing company’s stock valued at $2,538,000 after purchasing an additional 179,000 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. 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 accessible through this link. In other news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now directly owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was 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 worth $380,048. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on LYFT shares. UBS Group decreased their price objective on shares of Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Melius began coverage on Lyft in a research report on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective on the stock. Roth Mkm cut their target price on Lyft from $19.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Nomura raised 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. Finally, Loop Capital dropped their price target on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Twenty-six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.65.

Lyft Stock Performance

LYFT stock opened at $12.51 on Tuesday. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -26.62 and a beta of 2.04. The business’s fifty day simple moving average is $11.59 and its two-hundred day simple moving average is $14.29. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) EPS. Analysts predict that Lyft, Inc. will post -0.16 earnings per share for the current year.

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.