Geode Capital Management LLC decreased its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,866,572 shares of the ride-sharing company's stock after selling 218,104 shares during the quarter. Geode Capital Management LLC owned about 1.43% of Lyft worth $74,819,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in shares of Lyft in the 3rd quarter valued at about $27,000. International Assets Investment Management LLC purchased a new position in Lyft in the second quarter valued at about $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the 2nd quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Lyft during the third quarter worth $38,000. Finally, Quarry LP boosted its position in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company's stock worth $50,000 after buying an additional 3,468 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.
A number of equities analysts have issued reports on LYFT shares. Jefferies Financial Group lifted their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group upped their target price on Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. UBS Group raised their price target on Lyft from $13.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Loop Capital boosted their price target on Lyft from $16.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Evercore ISI increased their price objective on Lyft from $17.00 to $19.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft has a consensus rating of "Hold" and a consensus target price of $17.77.
Check Out Our Latest Report on Lyft
In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the sale, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 10,919 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,242 shares of company stock worth $427,330. 3.07% of the stock is currently owned by corporate insiders.
NASDAQ LYFT opened at $13.57 on Friday. The stock has a market cap of $5.63 billion, a PE ratio of -84.81, a P/E/G ratio of 4.47 and a beta of 2.09. The business has a 50 day moving average price of $15.44 and a two-hundred day moving average price of $13.52. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.
Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned ($0.02) EPS. The business's revenue was up 31.6% on a year-over-year basis. As a group, sell-side analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.
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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