Hedges Asset Management LLC Has $1.58 Million Holdings in Lyft, Inc. (NASDAQ:LYFT)

Hedges Asset Management LLC increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,000 shares of the ride-sharing company’s stock after acquiring an additional 5,000 shares during the quarter. Hedges Asset Management LLC’s holdings in Lyft were worth $1,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYFT. Price T Rowe Associates Inc. MD lifted its position in Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after buying an additional 1,218,620 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Lyft by 27,739.2% during the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after purchasing an additional 1,188,625 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after purchasing an additional 812,926 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lyft by 2.4% in the first 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 in the last quarter. Finally, Quadrature Capital Ltd raised its position in Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock worth $11,767,000 after purchasing an additional 521,537 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on LYFT. Jefferies Financial Group lifted their target price on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Barclays dropped their price target on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Melius Research began coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Finally, Evercore ISI reduced their price target on Lyft from $18.00 to $17.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.59.

Insider Activity

In related news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock valued at $380,048 over the last ninety days. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Down 2.7 %

Shares of LYFT stock opened at $13.41 on Monday. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of -83.81 and a beta of 2.04. The firm’s 50-day moving average is $12.37 and its 200-day moving average is $13.70.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. Sell-side analysts predict that Lyft, Inc. will post -0.09 EPS 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.