UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Lyft, Inc. (NASDAQ:LYFT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 0.4% during the 3rd quarter, Holdings Channel reports. The fund owned 18,052,879 shares of the ride-sharing company’s stock after acquiring an additional 80,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lyft were worth $230,174,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LYFT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lyft by 10.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,668 shares of the ride-sharing company’s stock valued at $863,000 after purchasing an additional 6,249 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Lyft by 54.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 135,366 shares of the ride-sharing company’s stock worth $1,726,000 after buying an additional 47,566 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Lyft by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after buying an additional 1,315 shares during the last quarter. West Tower Group LLC lifted its stake in shares of Lyft by 17.1% during the third quarter. West Tower Group LLC now owns 41,000 shares of the ride-sharing company’s stock valued at $523,000 after buying an additional 6,000 shares during the period. Finally, Qsemble Capital Management LP boosted its position in Lyft by 99.6% during the third quarter. Qsemble Capital Management LP now owns 21,524 shares of the ride-sharing company’s stock worth $274,000 after acquiring an additional 10,743 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the subject of several analyst reports. Wedbush reiterated a “neutral” rating and issued a $20.00 price target (up from $12.00) on shares of Lyft in a report on Thursday, November 7th. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. DA Davidson raised their price target on Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Bank of America raised their target price on shares of Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.55.

Insider Transactions at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the transaction, the insider now directly owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,990 shares of company stock worth $317,333. 3.07% of the stock is currently owned by insiders.

Lyft Stock Up 1.0 %

Shares of Lyft stock opened at $17.36 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $14.70 and a 200 day moving average price of $13.61. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The firm has a market cap of $7.20 billion, a P/E ratio of -108.50, a P/E/G ratio of 4.98 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the business posted ($0.02) earnings per share. On average, sell-side analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Lyft Profile

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.