Paragon Capital Management Ltd Sells 1,073 Shares of Lyft, Inc. (NASDAQ:LYFT)

Paragon Capital Management Ltd cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 283,742 shares of the ride-sharing company’s stock after selling 1,073 shares during the quarter. Lyft makes up 0.6% of Paragon Capital Management Ltd’s portfolio, making the stock its 25th largest holding. Paragon Capital Management Ltd owned about 0.08% of Lyft worth $2,721,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC bought a new position in Lyft in the 1st quarter valued at $28,000. Signaturefd LLC raised its stake in shares of Lyft by 87.1% in the first quarter. Signaturefd LLC now owns 3,801 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 1,769 shares during the last quarter. CWM LLC raised its stake in shares of Lyft by 87.6% in the first quarter. CWM LLC now owns 4,762 shares of the ride-sharing company’s stock worth $44,000 after acquiring an additional 2,224 shares during the last quarter. S.A. Mason LLC bought a new position in shares of Lyft in the first quarter worth about $46,000. Finally, Pinebridge Investments L.P. raised its position in Lyft by 59.5% in the 4th quarter. Pinebridge Investments L.P. now owns 6,119 shares of the ride-sharing company’s stock worth $67,000 after purchasing an additional 2,283 shares during the last quarter. 71.63% of the stock is owned by institutional investors.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.06 during mid-day trading on Friday, reaching $11.28. 9,562,798 shares of the company were exchanged, compared to its average volume of 18,167,600. The company’s 50-day simple moving average is $11.41 and its 200-day simple moving average is $10.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $4.36 billion, a P/E ratio of -3.12 and a beta of 1.78. Lyft, Inc. has a twelve month low of $7.85 and a twelve month high of $18.36.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, August 8th. The ride-sharing company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.23. Lyft had a negative return on equity of 181.53% and a negative net margin of 30.87%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts predict that Lyft, Inc. will post -1.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush initiated coverage on shares of Lyft in a research report on Tuesday, June 6th. They issued a “neutral” rating and a $10.00 price objective for the company. Jefferies Financial Group boosted their price objective on Lyft from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Tuesday, July 25th. Wells Fargo & Company began coverage on shares of Lyft in a research note on Wednesday, June 7th. They set an “equal weight” rating and a $9.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $12.00 target price on shares of Lyft in a research report on Tuesday, September 5th. Finally, TD Cowen upped their price objective on Lyft from $9.00 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, July 19th. Twenty-seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average price target of $13.78.

Insider Activity

In other Lyft news, Director Prashant Aggarwal purchased 96,900 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $10.34 per share, for a total transaction of $1,001,946.00. Following the completion of the transaction, the director now owns 971,269 shares in the company, valued at $10,042,921.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John David Risher acquired 100,000 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $11.46 per share, for a total transaction of $1,146,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,375,185 shares in the company, valued at $141,819,620.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Prashant Aggarwal purchased 96,900 shares of the stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $10.34 per share, with a total value of $1,001,946.00. Following the acquisition, the director now directly owns 971,269 shares in the company, valued at approximately $10,042,921.46. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 205,726 shares of company stock worth $2,247,945. Corporate insiders own 3.16% of the company’s stock.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.