Venturi Wealth Management LLC Acquires Shares of 56,148 Lyft, Inc. (NASDAQ:LYFT)

Venturi Wealth Management LLC purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 56,148 shares of the ride-sharing company's stock, valued at approximately $716,000.

Several other hedge funds have also added to or reduced their stakes in LYFT. Price T Rowe Associates Inc. MD raised its stake in shares of Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company's stock valued at $27,562,000 after buying an additional 1,218,620 shares during the last quarter. National Bank of Canada FI lifted its holdings in Lyft by 27,739.2% in the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company's stock valued at $16,665,000 after acquiring an additional 1,188,625 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company's stock valued at $40,475,000 after acquiring an additional 812,926 shares during the last quarter. Vanguard Group Inc. grew its position in Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company's stock valued at $636,603,000 after acquiring an additional 782,736 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Lyft by 600.2% during the first quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company's stock worth $11,767,000 after purchasing an additional 521,537 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Buying and Selling

In other news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company's stock, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now owns 929,638 shares of the company's stock, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,664 shares of company stock worth $380,048. Corporate insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of Lyft stock traded down $0.25 during trading hours on Tuesday, reaching $18.34. The company had a trading volume of 13,494,597 shares, compared to its average volume of 15,146,545. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The business has a fifty day simple moving average of $13.10 and a 200 day simple moving average of $13.51. 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 $7.52 billion, a PE ratio of -116.19 and a beta of 2.04.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping 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 1.67%. Lyft's revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, analysts anticipate that Lyft, Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on LYFT shares. Melius started coverage on shares of Lyft in a research note on Monday, July 22nd. They set a "hold" rating and a $15.00 target price on the stock. Evercore ISI increased 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. Loop Capital reduced their target price on Lyft from $20.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, September 3rd. Roth Mkm raised their target price on Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on Lyft from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.48.

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.