Lyft, Inc. (NASDAQ:LYFT) Stock Position Cut by Centiva Capital LP

Centiva Capital LP lowered its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 71.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,222 shares of the ride-sharing company's stock after selling 137,675 shares during the period. Centiva Capital LP's holdings in Lyft were worth $717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LYFT. True Wealth Design LLC acquired a new stake in shares of Lyft during the 3rd quarter worth $27,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the second quarter worth about $35,000. International Assets Investment Management LLC purchased a new position in shares of Lyft in the 2nd quarter worth about $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft in the 3rd quarter valued at about $38,000. Finally, Quarry LP grew its holdings in shares of Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company's stock worth $50,000 after purchasing an additional 3,468 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.44 during trading on Friday, reaching $15.94. 13,251,991 shares of the company's stock traded hands, compared to its average volume of 16,811,464. The stock has a market capitalization of $6.61 billion, a P/E ratio of -99.63, a price-to-earnings-growth ratio of 5.00 and a beta of 2.09. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a 50 day moving average of $15.04 and a 200-day moving average of $13.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

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, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business's revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) earnings per share. On average, equities analysts expect that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company's stock, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 30,909 shares of company stock worth $505,686 in the last three months. 3.07% of the stock is owned by insiders.

Analyst Ratings Changes

LYFT has been the topic of a number of recent research reports. Morgan Stanley lifted their price target 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. Tigress Financial lifted their target price on shares of Lyft from $24.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, November 21st. TD Cowen upped their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Barclays raised their price objective on Lyft from $14.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Finally, UBS Group upped their target price on Lyft from $13.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Twenty-eight 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.77.

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.