22,736 Shares in Lyft, Inc. (NASDAQ:LYFT) Bought by Waypoint Wealth Partners Inc.

Key Points

• Waypoint Wealth Partners Inc. has purchased 22,736 shares of Lyft, valued at approximately $270,000, during the first quarter of the year as detailed in its 13F filing with the SEC.
• Lyft reported earnings per share of $0.10 for the last quarter, missing the consensus estimate of $0.27, while revenue was $1.59 billion, below the expected $1.61 billion.
• Analysts have varied ratings on Lyft's stock, with target prices ranging from $16.00 to $21.00, and a consensus rating of "Hold" as of the latest updates.

Waypoint Wealth Partners Inc. bought a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,736 shares of the ride-sharing company's stock, valued at approximately $270,000.

Other hedge funds have also modified their holdings of the company. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft in the fourth quarter worth $25,000. GAMMA Investing LLC boosted its position in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after buying an additional 1,237 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Lyft in the first quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Lyft in the first quarter worth $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Lyft in the fourth quarter worth $41,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Price Performance

NASDAQ LYFT opened at $14.58 on Thursday. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $19.07. The stock's 50-day moving average is $14.95 and its two-hundred day moving average is $13.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $6.09 billion, a P/E ratio of 60.75, a price-to-earnings-growth ratio of 3.03 and a beta of 2.26.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business earned $0.24 earnings per share. Lyft's quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the transaction, the director directly owned 20,467 shares in the company, valued at approximately $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the transaction, the director owned 879,498 shares in the company, valued at $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LYFT. Barclays raised their target price on Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $16.00 target price (up previously from $15.00) on shares of Lyft in a research report on Thursday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research report on Thursday, June 5th. JPMorgan Chase & Co. raised their target price on Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Sanford C. Bernstein raised their target price on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lyft presently has a consensus rating of "Hold" and an average target price of $16.70.

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.

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