82,898 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 82,898 shares of the ride-sharing company's stock, valued at approximately $1,057,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYFT. Crossmark Global Holdings Inc. lifted its holdings in shares of Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company's stock valued at $330,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company's stock valued at $196,000 after acquiring an additional 1,160 shares during the period. QRG Capital Management Inc. raised its position in Lyft by 6.1% in the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company's stock valued at $350,000 after purchasing an additional 1,437 shares during the last quarter. CWM LLC boosted its stake in Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company's stock worth $98,000 after purchasing an additional 1,457 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company's stock worth $2,612,000 after purchasing an additional 1,477 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Down 10.1 %

Shares of NASDAQ LYFT traded down $1.74 during midday trading on Thursday, reaching $15.50. 25,939,194 shares of the company's stock were exchanged, compared to its average volume of 15,067,083. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The business's fifty day moving average price is $14.98 and its two-hundred day moving average price is $13.60. 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 stock has a market capitalization of $6.43 billion, a PE ratio of -96.88, a price-to-earnings-growth ratio of 4.91 and a beta of 2.09.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. The business 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%. The business's quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. Analysts forecast that Lyft, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the transaction, the insider now directly owns 755,847 shares of the company's stock, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,909 shares of company stock valued at $505,686 in the last quarter. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reiterated a "market perform" rating on shares of Lyft in a research note on Friday, October 18th. Jefferies Financial Group lifted their target price on Lyft from $10.50 to $13.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Wedbush restated a "neutral" rating and set a $20.00 price target (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Finally, Nomura upgraded shares of Lyft from a "reduce" rating to a "neutral" rating and reduced their target price for the stock from $15.00 to $13.00 in a research note 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 company's stock. According to MarketBeat.com, Lyft has an average rating of "Hold" and a consensus target price of $17.77.

Lyft 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.