Advisory Services Network LLC Acquires Shares of 11,162 Lyft, Inc. (NASDAQ:LYFT)

Advisory Services Network LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFTFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,162 shares of the ride-sharing company’s stock, valued at approximately $167,000.

A number of other large investors also recently modified their holdings of the company. Commerce Bank increased its position in shares of Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after purchasing an additional 782 shares during the last quarter. Aigen Investment Management LP boosted its holdings in shares of Lyft by 34.5% in the 4th quarter. Aigen Investment Management LP now owns 36,724 shares of the ride-sharing company’s stock valued at $550,000 after buying an additional 9,417 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of Lyft by 26.1% in the 4th quarter. Trexquant Investment LP now owns 530,644 shares of the ride-sharing company’s stock valued at $7,954,000 after buying an additional 109,881 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Lyft by 163.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after buying an additional 62,623 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Lyft by 79.7% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 34,963 shares of the ride-sharing company’s stock valued at $524,000 after buying an additional 15,509 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LYFT. Piper Sandler upped their target price on shares of Lyft from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Thursday, May 30th. The Goldman Sachs Group increased their price target on shares of Lyft from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Wedbush increased their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, Tigress Financial increased their price target on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.70.

Check Out Our Latest Stock Analysis on Lyft

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The disclosure for this sale can be found here. In the last three months, insiders sold 246,033 shares of company stock worth $4,782,237. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Performance

NASDAQ:LYFT opened at $15.69 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. The firm has a 50-day moving average price of $16.91 and a two-hundred day moving average price of $15.46. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a market capitalization of $6.33 billion, a P/E ratio of -33.38 and a beta of 2.09.

Lyft (NASDAQ:LYFTGet Free Report) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, research analysts expect that Lyft, Inc. will post -0.2 earnings per share for the current fiscal year.

Lyft Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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