EULAV Asset Management Sells 45,000 Shares of Lyft, Inc. (NASDAQ:LYFT)

EULAV Asset Management reduced its stake in Lyft, Inc. (NASDAQ:LYFT) by 14.5% in the 4th quarter, HoldingsChannel reports. The firm owned 265,000 shares of the ride-sharing company’s stock after selling 45,000 shares during the quarter. EULAV Asset Management’s holdings in Lyft were worth $3,418,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LYFT. True Wealth Design LLC acquired a new stake in shares of Lyft in the 3rd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft during the fourth quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft during the third quarter worth approximately $38,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Lyft in the 3rd quarter worth $70,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Bank of America decreased their target price on shares of Lyft from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. TD Cowen raised their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Loop Capital boosted their price objective on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Truist Financial raised their target price on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.78.

Lyft Price Performance

NASDAQ:LYFT opened at $14.17 on Friday. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -88.56, a P/E/G ratio of 1.86 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a fifty day moving average of $14.16 and a 200 day moving average of $13.46. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted ($0.02) earnings per share. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. On average, research analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Insider Transactions at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.07% of the company’s stock.

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.