Intellectus Partners LLC lifted its stake in shares of LYFT Inc (NASDAQ:LYFT) by 41.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,170 shares of the ride-sharing company’s stock after purchasing an additional 5,025 shares during the period. Intellectus Partners LLC’s holdings in LYFT were worth $701,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of LYFT during the first quarter valued at $42,175,000. Zevenbergen Capital Investments LLC purchased a new position in LYFT in the first quarter valued at about $17,984,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of LYFT in the first quarter worth about $2,346,000. Bluestein R H & Co. acquired a new stake in shares of LYFT in the second quarter worth about $591,000. Finally, FIL Ltd acquired a new stake in shares of LYFT in the first quarter worth about $2,437,000. 34.55% of the stock is currently owned by institutional investors.
LYFT has been the subject of a number of analyst reports. Monness Crespi & Hardt initiated coverage on LYFT in a research report on Monday, July 1st. They issued a “neutral” rating for the company. Citigroup upped their price target on LYFT from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Barclays upped their price target on LYFT from $55.00 to $63.00 and gave the company a “positive” rating in a report on Thursday, August 8th. Guggenheim raised LYFT from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, August 26th. Finally, MKM Partners started coverage on LYFT in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $71.15.
LYFT stock traded up $1.66 on Friday, hitting $39.36. The company’s stock had a trading volume of 2,229,251 shares, compared to its average volume of 7,064,534. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73. LYFT Inc has a 1 year low of $37.07 and a 1 year high of $88.60. The firm’s 50 day simple moving average is $45.01.
LYFT (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.66) by $0.98. The company had revenue of $867.30 million for the quarter, compared to analyst estimates of $809.64 million. The firm’s revenue was up 71.8% on a year-over-year basis. As a group, analysts anticipate that LYFT Inc will post -11.38 earnings per share for the current year.
In other LYFT news, General Counsel Kristin Sverchek sold 6,000 shares of LYFT stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $47.97, for a total value of $287,820.00. Following the completion of the transaction, the general counsel now owns 206,969 shares of the company’s stock, valued at $9,928,302.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ran I. Makavy sold 70,000 shares of LYFT stock in a transaction on Monday, August 19th. The stock was sold at an average price of $52.11, for a total transaction of $3,647,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,000 shares of company stock valued at $5,563,370.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
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