Captrust Financial Advisors Acquires Shares of 10,813 Lyft, Inc. (NASDAQ:LYFT)

Captrust Financial Advisors acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,813 shares of the ride-sharing company’s stock, valued at approximately $138,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after purchasing an additional 80,675 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Lyft during the 3rd quarter worth $90,604,000. Primecap Management Co. CA raised its holdings in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after acquiring an additional 235,510 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lyft by 39.5% during the 2nd 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. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Lyft by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock worth $22,580,000 after acquiring an additional 167,400 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In other news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock worth $427,330 over the last 90 days. 3.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on LYFT. Piper Sandler reiterated an “overweight” rating and set a $23.00 price target (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Cantor Fitzgerald lifted their price target on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI lifted their price target on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company restated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Finally, Tigress Financial boosted their price objective on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus target price of $17.77.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $14.29 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The stock has a 50 day moving average of $15.36 and a two-hundred day moving average of $13.55. The stock has a market cap of $5.93 billion, a P/E ratio of -89.31, a P/E/G ratio of 4.47 and a beta of 2.09.

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

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.