Private Advisor Group LLC Acquires 92,287 Shares of Lyft, Inc. $LYFT

Private Advisor Group LLC grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 53.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 264,421 shares of the ride-sharing company’s stock after purchasing an additional 92,287 shares during the quarter. Private Advisor Group LLC’s holdings in Lyft were worth $3,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Lyft in the fourth quarter valued at approximately $109,987,000. Swedbank AB acquired a new position in shares of Lyft in the 4th quarter valued at $108,472,000. Contour Asset Management LLC acquired a new position in shares of Lyft in the 4th quarter valued at $75,870,000. Ensign Peak Advisors Inc raised its stake in Lyft by 2,441.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,857,593 shares of the ride-sharing company’s stock worth $35,982,000 after buying an additional 1,784,494 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Lyft by 7.4% during the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after acquiring an additional 1,773,438 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Down 1.7%

LYFT opened at $15.17 on Thursday. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The stock’s fifty day simple moving average is $14.12 and its 200 day simple moving average is $15.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.76 billion, a PE ratio of 2.21, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts expect that Lyft, Inc. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of research analyst reports. William Blair cut Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Roth Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Lyft in a research report on Friday, May 8th. Citigroup began coverage on shares of Lyft in a research report on Wednesday, June 17th. They set a “buy” rating on the stock. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.40.

Insider Activity at Lyft

In other Lyft news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at $414,065.92. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 69,196 shares of company stock worth $992,371. 0.92% of the stock is owned by corporate insiders.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.