Lyft, Inc. $LYFT Shares Sold by World Investment Advisors

World Investment Advisors lessened its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 22.2% in the 2nd quarter, Holdings Channel reports. The firm owned 14,468 shares of the ride-sharing company’s stock after selling 4,130 shares during the period. World Investment Advisors’ holdings in Lyft were worth $228,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Lyft by 79.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock valued at $46,000 after buying an additional 1,769 shares during the last quarter. Amalgamated Bank raised its position in shares of Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after buying an additional 892 shares during the last quarter. Banque Pictet & Cie SA acquired a new stake in Lyft in the 1st quarter valued at about $119,000. Finally, Poinciana Advisors Group LLC acquired a new stake in Lyft in the 1st quarter valued at about $125,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Activity

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the transaction, the insider directly owned 835,782 shares of the company’s stock, valued at $16,715,640. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the completion of the transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Lyft from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, September 18th. Susquehanna reduced their price objective on Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft raised their target price on Lyft from $16.00 to $21.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. Canaccord Genuity Group upped their price objective on shares of Lyft from $11.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, September 18th. Finally, Wells Fargo & Company raised their price objective on shares of Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.68.

Lyft Price Performance

Shares of LYFT opened at $19.42 on Wednesday. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day simple moving average of $19.99 and a two-hundred day simple moving average of $16.69. The stock has a market cap of $7.89 billion, a PE ratio of 80.92, a P/E/G ratio of 3.66 and a beta of 2.36.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

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.