Gries Financial LLC Invests $200,000 in Lyft, Inc. (NASDAQ:LYFT)

Gries Financial LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,499 shares of the ride-sharing company’s stock, valued at approximately $200,000.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LYFT shares. TD Cowen upped their target price on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Roth Mkm upped their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their target price on shares of Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised their price target on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial boosted their price objective on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.84.

Insider Buying and Selling

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’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 value of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the transaction, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock valued at $427,330 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $13.56 on Friday. The business’s fifty day moving average price is $14.57 and its 200 day moving average price is $13.43. Lyft, Inc. has a 12-month low of $8.93 and a 12-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. The company has a market capitalization of $5.62 billion, a PE ratio of -84.75, a P/E/G ratio of 1.74 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm earned ($0.02) earnings per share. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.06 EPS for the current year.

About Lyft

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.