Lyft, Inc. (NASDAQ:LYFT) Position Lessened by TFG Asset Management GP Ltd

TFG Asset Management GP Ltd cut its holdings in Lyft, Inc. (NASDAQ:LYFTFree Report) by 35.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,200,000 shares of the ride-sharing company’s stock after selling 1,200,000 shares during the quarter. Lyft makes up approximately 8.0% of TFG Asset Management GP Ltd’s holdings, making the stock its 3rd largest holding. TFG Asset Management GP Ltd owned about 0.56% of Lyft worth $32,978,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LYFT. Vanguard Group Inc. raised its holdings in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares during the last quarter. Norges Bank bought a new stake in shares of Lyft during the 4th quarter worth approximately $94,687,000. Jacobs Levy Equity Management Inc. increased its holdings in Lyft by 5.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after purchasing an additional 300,982 shares during the period. Invesco Ltd. increased its holdings in Lyft by 21.3% during the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after purchasing an additional 778,563 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Lyft by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after purchasing an additional 141,823 shares during the period. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total value of $101,010.00. Following the completion of the sale, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lyft news, President Kristin Sverchek sold 6,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the completion of the sale, the president now owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 3,327 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $15.74, for a total value of $52,366.98. Following the completion of the transaction, the director now owns 921,294 shares in the company, valued at approximately $14,501,167.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,033 shares of company stock valued at $4,782,237. 3.07% of the stock is owned by company insiders.

Lyft Stock Up 6.8 %

NASDAQ LYFT traded up $0.99 during trading hours on Wednesday, reaching $15.60. 13,769,826 shares of the company traded hands, compared to its average volume of 15,928,685. The stock has a market capitalization of $6.29 billion, a PE ratio of -33.55 and a beta of 2.09. The company has a 50 day moving average of $16.68 and a two-hundred day moving average of $15.63. Lyft, Inc. has a 12 month low of $8.85 and a 12 month high of $20.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFTGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, equities analysts expect that Lyft, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LYFT. JPMorgan Chase & Co. upped their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Friday, June 7th. Truist Financial boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. TD Cowen boosted their price objective on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, June 7th. Finally, Gordon Haskett raised shares of Lyft from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.04.

Get Our Latest Analysis on Lyft

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.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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