Concentric Capital Strategies LP Has $2.26 Million Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Concentric Capital Strategies LP increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 171.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,919 shares of the ride-sharing company's stock after buying an additional 111,861 shares during the quarter. Concentric Capital Strategies LP's holdings in Lyft were worth $2,256,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lyft by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock valued at $230,174,000 after purchasing an additional 80,675 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Lyft in the 3rd quarter valued at $90,604,000. Primecap Management Co. CA lifted its position in Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock worth $82,768,000 after buying an additional 235,510 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lyft by 39.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company's stock worth $40,475,000 after buying an additional 812,926 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Lyft by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company's stock valued at $22,580,000 after acquiring an additional 167,400 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares of the company's stock, valued at $10,523,502.16. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Logan Green sold 10,919 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares of the company's stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,909 shares of company stock worth $505,686. Insiders own 3.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Roth Mkm raised their price target on Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Tigress Financial raised their target price on shares of Lyft from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Nomura Securities raised shares of Lyft from a "strong sell" rating to a "hold" rating in a research report on Friday, August 23rd. Raymond James assumed coverage on shares of Lyft in a research report on Tuesday, September 24th. They issued a "market perform" rating for the company. Finally, Wedbush reaffirmed a "neutral" rating and issued a $20.00 target price (up from $12.00) on shares of Lyft in a report on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lyft currently has a consensus rating of "Hold" and an average target price of $17.55.

Lyft Trading Down 0.2 %

Shares of LYFT stock traded down $0.04 during trading hours on Tuesday, reaching $17.13. The company's stock had a trading volume of 2,253,635 shares, compared to its average volume of 15,016,934. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The firm's 50 day simple moving average is $14.78 and its 200-day simple moving average is $13.56.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, research analysts predict that Lyft, Inc. will post 0.08 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.