National Bank of Canada FI Sells 969,610 Shares of Lyft, Inc. (NASDAQ:LYFT)

National Bank of Canada FI lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 81.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 223,300 shares of the ride-sharing company's stock after selling 969,610 shares during the period. National Bank of Canada FI owned 0.05% of Lyft worth $2,847,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. bought a new position in Lyft in the 3rd quarter worth about $90,604,000. Maple Rock Capital Partners Inc. boosted 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. grew its holdings in Lyft by 27.2% in the 3rd 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in Lyft in the 3rd quarter valued at approximately $13,430,000. Finally, Bank of New York Mellon Corp raised its stake in 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 valued at $40,475,000 after acquiring an additional 812,926 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 10,919 shares of Lyft stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now directly 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. Insiders have sold a total of 26,666 shares of company stock worth $454,770 in the last ninety days. Corporate insiders own 3.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Loop Capital increased their target price on shares of Lyft from $16.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Lyft from $16.50 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a "market perform" rating in a report on Thursday, November 7th. Finally, Wedbush reissued a "neutral" rating and set a $20.00 target price (up previously from $12.00) on shares of Lyft in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.77.

Lyft Stock Down 4.8 %

NASDAQ LYFT traded down $0.71 during trading on Friday, reaching $14.14. 16,037,705 shares of the company's stock were exchanged, compared to its average volume of 15,085,147. 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 company's fifty day simple moving average is $15.32 and its 200-day simple moving average is $13.59. The firm has a market capitalization of $5.87 billion, a PE ratio of -88.38, a P/E/G ratio of 4.47 and a beta of 2.09.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The business 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 firm's quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. Sell-side 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.