10,257 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,257 shares of the ride-sharing company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Lyft during the 2nd quarter valued at $35,000. International Assets Investment Management LLC acquired a new position in Lyft in the second quarter valued at $35,000. Capital Performance Advisors LLP acquired a new position in Lyft in the third quarter valued at $38,000. Quarry LP increased its stake in Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in Lyft during the second quarter worth about $72,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 3.1 %

NASDAQ:LYFT opened at $16.79 on Monday. The stock has a 50-day simple moving average of $14.17 and a 200 day simple moving average of $13.55. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -104.94, a price-to-earnings-growth ratio of 4.73 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate 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 return on equity of 1.58% and a negative net margin of 1.19%. The business’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. Sell-side analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LYFT. Roth Mkm boosted their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital dropped their price objective on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Raymond James initiated coverage on shares of Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target (up from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.55.

Insiders Place Their Bets

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the transaction, the insider now owns 764,332 shares of the company’s stock, valued at $8,988,544.32. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,799 shares of company stock valued at $537,082 over the last 90 days. 3.07% of the stock is owned by company insiders.

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.