Smith Group Asset Management LLC Invests $280,000 in Lyft, Inc. (NASDAQ:LYFT)

Smith Group Asset Management LLC acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,700 shares of the ride-sharing company’s stock, valued at approximately $280,000.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Lyft during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new position in Lyft in the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Lyft during the 3rd quarter valued at $38,000. Quarry LP increased its holdings 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 purchasing an additional 3,468 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Lyft in the third quarter worth $70,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of Lyft stock opened at $13.43 on Thursday. 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, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The stock has a 50 day moving average of $14.63 and a 200 day moving average of $13.43. The firm has a market cap of $5.57 billion, a PE ratio of -83.94, a PEG ratio of 1.74 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last posted 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. The firm 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%. Lyft’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. On average, research analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last three months. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company reduced their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. UBS Group increased their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 target price (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lyft 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $17.84.

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.