B. Riley Wealth Advisors Inc. Grows Position in Lyft, Inc. (NASDAQ:LYFT)

B. Riley Wealth Advisors Inc. raised its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 37.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,976 shares of the ride-sharing company’s stock after acquiring an additional 12,462 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lyft were worth $585,000 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. True Wealth Design LLC purchased a new stake in Lyft during the third quarter valued at $27,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Lyft during the 2nd quarter valued at about $35,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft during the 2nd quarter valued at about $35,000. Capital Performance Advisors LLP bought a new position in shares of Lyft in the 3rd quarter valued at about $38,000. Finally, Quarry LP grew its position in Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Raymond James initiated coverage on shares of Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. TD Cowen lifted their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Nomura upgraded shares of Lyft from a “reduce” rating to a “neutral” rating and cut their price target for the company from $15.00 to $13.00 in a report on Friday, August 23rd. Twenty-eight research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.77.

Lyft Stock Performance

LYFT stock opened at $13.61 on Thursday. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -85.06, a PEG ratio of 4.47 and a beta of 2.09. 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 firm has a 50-day simple moving average of $15.41 and a two-hundred day simple moving average of $13.54.

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

Insider Transactions at Lyft

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction that occurred on 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 directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

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.