Thompson Davis & CO. Inc. Takes Position in Lyft, Inc. (NASDAQ:LYFT)

Thompson Davis & CO. Inc. bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,730 shares of the ride-sharing company’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYFT. Vanguard Group Inc. lifted its stake in shares of Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lyft by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock valued at $36,770,000 after purchasing an additional 1,043,719 shares during the period. Invesco Ltd. lifted its stake in shares of Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after purchasing an additional 778,563 shares during the period. Canada Pension Plan Investment Board raised its stake in Lyft by 123.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock valued at $12,740,000 after buying an additional 667,600 shares during the last quarter. Finally, Knollwood Investment Advisory LLC purchased a new position in Lyft during the third quarter valued at $5,982,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the transaction, the director now directly owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The disclosure for this sale can be found here. Insiders sold a total of 270,526 shares of company stock valued at $5,195,771 over the last 90 days. Company insiders own 3.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. The Goldman Sachs Group cut Lyft from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $15.00 in a research note on Thursday, January 11th. Citigroup lifted their price objective on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Tigress Financial lifted their price objective on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company lifted their target price on Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $14.60.

Lyft Stock Performance

NASDAQ:LYFT traded down $0.66 during mid-day trading on Tuesday, hitting $15.64. 8,765,810 shares of the company traded hands, compared to its average volume of 16,288,968. The stock’s fifty day moving average price is $17.68 and its 200-day moving average price is $14.36. Lyft, Inc. has a one year low of $7.85 and a one year high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -17.57 and a beta of 1.97.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Research analysts anticipate that Lyft, Inc. will post -0.35 earnings per share for the current fiscal 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.