Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,658 shares of the ride-sharing company’s stock after buying an additional 19,611 shares during the period. Cinctive Capital Management LP’s holdings in Lyft were worth $3,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in shares of Lyft in the third quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new position in Lyft during the 2nd quarter valued at $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the 2nd quarter valued at $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lyft in the 3rd quarter worth $38,000. Finally, Quarry LP lifted its holdings in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYFT has been the topic of several research reports. TD Cowen boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and cut their target price for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Citigroup cut their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus target price of $17.55.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 10,919 shares of the 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 of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,909 shares of company stock valued at $505,686 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

Lyft Trading Down 1.1 %

Lyft stock opened at $17.17 on Tuesday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The business has a 50 day moving average price of $14.78 and a two-hundred day moving average price of $13.56. 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) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. Equities research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current 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.