Steel Grove Capital Advisors LLC Has $153,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Steel Grove Capital Advisors LLC cut its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,174 shares of the ride-sharing company’s stock after selling 6,414 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Lyft were worth $153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LYFT. BluePath Capital Management LLC bought a new position in Lyft during the third quarter worth $35,000. Gables Capital Management Inc. boosted its holdings in shares of Lyft by 129.0% during the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 2,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Lyft by 77.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 1,567 shares during the last quarter. EMC Capital Management increased its stake in shares of Lyft by 283.4% during the third quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company’s stock worth $52,000 after purchasing an additional 3,696 shares during the period. Finally, Fred Alger Management LLC bought a new stake in Lyft in the 3rd quarter valued at $60,000. 83.07% of the stock is owned by institutional investors.

Lyft Trading Down 0.2 %

Shares of LYFT stock traded down $0.03 during mid-day trading on Thursday, reaching $19.45. 6,666,249 shares of the stock traded hands, compared to its average volume of 17,923,789. The stock’s fifty day simple moving average is $15.65 and its two-hundred day simple moving average is $13.11. Lyft, Inc. has a 1-year low of $7.85 and a 1-year high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -21.89 and a beta of 1.95.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, research analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LYFT shares. Moffett Nathanson raised Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Wells Fargo & Company lifted their price target on shares of Lyft from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, March 5th. Finally, BMO Capital Markets assumed coverage on Lyft in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.40.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the sale, the chief accounting officer now owns 255,817 shares of the company’s stock, valued at $4,108,421.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Lisa Blackwood-Kapral sold 18,065 shares of Lyft stock in a transaction on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the sale, the chief accounting officer now directly owns 255,817 shares in the company, valued at $4,108,421.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now directly owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The disclosure for this sale can be found here. Insiders have sold 276,195 shares of company stock valued at $5,276,044 in the last ninety days. 3.16% of the stock is owned by company insiders.

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.