Geode Capital Management LLC Sells 218,104 Shares of Lyft, Inc. (NASDAQ:LYFT)

Geode Capital Management LLC lowered its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,866,572 shares of the ride-sharing company's stock after selling 218,104 shares during the quarter. Geode Capital Management LLC owned approximately 1.43% of Lyft worth $74,819,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in shares of Lyft in the 3rd quarter valued at about $90,604,000. Maple Rock Capital Partners Inc. increased its position in shares of Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company's stock worth $78,872,000 after buying an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock worth $103,456,000 after buying an additional 1,735,208 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Lyft by 27,739.2% during the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company's stock worth $16,665,000 after buying an additional 1,188,625 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Lyft during the third quarter worth $13,430,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on LYFT shares. Wells Fargo & Company reissued a "market perform" rating on shares of Lyft in a research report on Friday, October 18th. Tigress Financial raised their target price on Lyft from $24.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Jefferies Financial Group raised their price objective on Lyft from $10.50 to $13.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on Lyft from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.77.

Insider Buying and Selling at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares of the company's stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $188,352.75. Following the sale, the director now directly owns 314,492 shares of the company's stock, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,242 shares of company stock valued at $427,330. Company insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.01 during midday trading on Friday, hitting $13.57. 18,586,756 shares of the stock traded hands, compared to its average volume of 15,080,610. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The firm has a market capitalization of $5.63 billion, a P/E ratio of -84.81, a PEG ratio of 4.47 and a beta of 2.09. The firm has a 50-day moving average of $15.44 and a two-hundred day moving average of $13.52.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted ($0.02) earnings per share. The firm's revenue was up 31.6% compared to the same quarter last year. On average, equities analysts forecast that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

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.