Rockefeller Capital Management L.P. Sells 11,433 Shares of Lyft, Inc. (NASDAQ:LYFT)

Rockefeller Capital Management L.P. lowered its position in Lyft, Inc. (NASDAQ:LYFT) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,928 shares of the ride-sharing company’s stock after selling 11,433 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Lyft were worth $1,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in shares of Lyft in the 3rd quarter worth $90,604,000. National Bank of Canada FI raised its holdings in shares of Lyft by 27,739.2% in the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after acquiring an additional 1,188,625 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after acquiring an additional 812,926 shares during the period. SG Americas Securities LLC grew its holdings in Lyft by 401.2% during the 2nd quarter. SG Americas Securities LLC now owns 326,779 shares of the ride-sharing company’s stock worth $4,608,000 after acquiring an additional 261,582 shares in the last quarter. Finally, Huber Capital Management LLC grew its holdings in Lyft by 62.1% during the 2nd quarter. Huber Capital Management LLC now owns 631,189 shares of the ride-sharing company’s stock worth $8,900,000 after acquiring an additional 241,814 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,909 shares of company stock valued at $505,686. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $15.94 on Friday. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market cap of $6.61 billion, a PE ratio of -99.63, a price-to-earnings-growth ratio of 5.00 and a beta of 2.09. The company’s 50 day moving average is $15.04 and its 200 day moving average is $13.59.

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, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion for 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%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, sell-side analysts forecast that Lyft, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LYFT shares. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. DA Davidson boosted their price objective on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Twenty-eight investment 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 company’s stock. According to MarketBeat.com, Lyft presently has a consensus rating of “Hold” and an average price target of $17.77.

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.