Dark Forest Capital Management LP Takes $613,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Dark Forest Capital Management LP bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 43,490 shares of the ride-sharing company's stock, valued at approximately $613,000.

Several other hedge funds have also modified their holdings of LYFT. GAMMA Investing LLC lifted its stake in Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company's stock worth $43,000 after acquiring an additional 664 shares in the last quarter. Commerce Bank lifted its stake in Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company's stock worth $414,000 after acquiring an additional 782 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company's stock worth $330,000 after acquiring an additional 993 shares in the last quarter. FinTrust Capital Advisors LLC lifted its stake in Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company's stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in 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 worth $196,000 after acquiring an additional 1,160 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 10,323 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares of the company's stock, valued at $3,843,779.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Logan Green sold 10,323 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Kristin Sverchek sold 3,000 shares of the company's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the transaction, the president now directly owns 47,778 shares in the company, valued at approximately $659,814.18. The disclosure for this sale can be found here. Insiders have sold a total of 35,664 shares of company stock worth $421,478 in the last three months. Insiders own 3.07% of the company's stock.

Lyft Stock Performance

Lyft stock opened at $13.28 on Friday. The firm has a market capitalization of $5.45 billion, a P/E ratio of -28.25 and a beta of 2.04. The stock has a fifty day moving average price of $11.55 and a two-hundred day moving average price of $14.58. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The company's revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.14) earnings per share. As a group, analysts anticipate that Lyft, Inc. will post -0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wedbush reduced their price objective on Lyft from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Truist Financial reduced their price objective on Lyft from $18.00 to $13.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on Lyft from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Friday, June 7th. Loop Capital cut their price target on Lyft from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company cut their price target on Lyft from $17.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, August 8th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $15.65.

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.

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