Jupiter Asset Management Ltd. Sells 653,127 Shares of Lyft, Inc. $LYFT

Jupiter Asset Management Ltd. lessened its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 25.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,954,272 shares of the ride-sharing company’s stock after selling 653,127 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Lyft were worth $30,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rakuten Group Inc. bought a new position in Lyft in the 1st quarter worth approximately $130,434,000. Ameriprise Financial Inc. boosted its holdings in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after acquiring an additional 5,178,118 shares during the period. AQR Capital Management LLC grew its position in shares of Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after purchasing an additional 4,980,876 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Lyft by 83,744.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company’s stock valued at $37,331,000 after purchasing an additional 3,141,240 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Lyft by 415.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company’s stock worth $58,547,000 after purchasing an additional 2,993,807 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial lifted their target price on Lyft from $16.00 to $23.00 and gave the company a “hold” rating in a report on Friday, November 7th. Wells Fargo & Company raised their price objective on shares of Lyft from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group upped their target price on Lyft from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Canaccord Genuity Group lifted their price target on Lyft from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday. Finally, Susquehanna lifted their price objective on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.72.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the transaction, the insider owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John David Risher bought 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 74,427 shares of company stock valued at $1,252,686. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $24.57 on Thursday. The firm has a market cap of $9.99 billion, a P/E ratio of 64.66, a P/E/G ratio of 2.80 and a beta of 2.36. The firm’s fifty day moving average is $20.74 and its 200 day moving average is $17.12. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business earned $0.29 EPS. Lyft’s revenue was up 11.6% on a year-over-year basis. Research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft Company 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.