Lyft, Inc. (NASDAQ:LYFT) Shares Bought by EULAV Asset Management

EULAV Asset Management grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 310,000 shares of the ride-sharing company’s stock after purchasing an additional 30,000 shares during the period. EULAV Asset Management’s holdings in Lyft were worth $3,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LYFT. International Assets Investment Management LLC acquired a new position in Lyft in the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lyft during the 2nd quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft in the 3rd quarter valued at $38,000. Allspring Global Investments Holdings LLC purchased a new stake in Lyft during the first quarter worth $41,000. Finally, Quarry LP grew its position in Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Down 4.2 %

LYFT opened at $16.57 on Wednesday. The stock has a market capitalization of $6.87 billion, a PE ratio of -103.56, a P/E/G ratio of 5.26 and a beta of 2.04. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50 day moving average price is $13.87 and its 200 day moving average price is $13.57.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Susquehanna upped their price objective on shares of Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Bank of America upped their price target on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company restated a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. Finally, Raymond James began coverage on Lyft in a research report on Tuesday, September 24th. They set a “market perform” rating on the stock. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.48.

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,799 shares of company stock valued at $537,082 over the last 90 days. 3.07% of the stock is owned by insiders.

About Lyft

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.