24,290 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,290 shares of the ride-sharing company’s stock, valued at approximately $310,000.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Lyft by 430.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 3,154 shares during the last quarter. CWM LLC boosted its holdings in shares of Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares during the last quarter. Comerica Bank boosted its holdings in shares of Lyft by 310.3% in the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after purchasing an additional 77,578 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Lyft in the 2nd quarter valued at $388,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after purchasing an additional 782,736 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 755,847 shares in the company, valued at $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,987 shares of company stock worth $619,025 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Lyft Trading Up 1.1 %

Shares of NASDAQ:LYFT opened at $18.12 on Monday. The company has a 50 day moving average of $13.64 and a 200-day moving average of $13.57. The firm has a market cap of $7.43 billion, a P/E ratio of -113.25, a P/E/G ratio of 5.26 and a beta of 2.04. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. As a group, analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James assumed coverage on shares of Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Morgan Stanley raised their target price on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Bank of America raised their target price on shares of Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Roth Mkm raised their target price 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. Twenty-eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.48.

Lyft Company 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.