Washington Capital Management Inc. bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 31,600 shares of the ride-sharing company's stock, valued at approximately $408,000.
Several other large investors have also bought and sold shares of the stock. True Wealth Design LLC bought a new stake in Lyft during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in Lyft during the 4th quarter worth $31,000. Capital Performance Advisors LLP bought a new stake in shares of Lyft in the 3rd quarter worth $38,000. Quarry LP raised its holdings in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company's stock valued at $50,000 after purchasing an additional 3,468 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Lyft during the third quarter valued at about $70,000. 83.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Bank of America decreased their price objective on shares of Lyft from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. TD Cowen lifted 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. Roth Mkm increased their price target on shares of Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Evercore ISI increased their target price on shares of Lyft from $17.00 to $19.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.84.
Get Our Latest Stock Analysis on LYFT
Lyft Stock Performance
Shares of NASDAQ:LYFT traded down $0.01 during mid-day trading on Thursday, reaching $13.43. 10,366,925 shares of the company traded hands, compared to its average volume of 14,327,442. The company's 50 day moving average price is $14.57 and its 200-day moving average price is $13.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $5.57 billion, a PE ratio of -83.88, a PEG ratio of 1.74 and a beta of 2.14. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82.
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 analysts' consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the previous year, the firm earned ($0.02) EPS. The firm's revenue was up 31.6% compared to the same quarter last year. On average, equities analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.
Insider Transactions at Lyft
In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft 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 transaction, the chief accounting officer now directly owns 332,243 shares of the company's stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now owns 755,847 shares in the company, valued at $13,423,842.72. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,242 shares of company stock worth $427,330. 3.07% of the stock is currently owned by company insiders.
Lyft Profile
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Free Report)
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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