Algert Global LLC Increases Stock Position in Lyft, Inc. $LYFT

Key Points

• Algert Global LLC increased its stake in Lyft, Inc. by 19.4% during the first quarter, now holding approximately 0.12% of the company valued at $5.77 million.
• Lyft's earnings report showed a loss, with earnings per share of $0.10, missing estimates by $0.17, despite a year-over-year revenue increase of 10.6%.
• Analysts have a current average rating of "Hold" for Lyft, with a target price of $16.70, while several institutions have recently adjusted their price objectives up or down.

Algert Global LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 19.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,120 shares of the ride-sharing company's stock after buying an additional 79,114 shares during the quarter. Algert Global LLC owned approximately 0.12% of Lyft worth $5,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LYFT. Spurstone Advisory Services LLC bought a new stake in shares of Lyft in the 4th quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Lyft in the 1st quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lyft in the 1st quarter valued at about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at about $41,000. 83.07% of the stock is owned by institutional investors.

Insider Transactions at Lyft

In other Lyft news, Director Jill Beggs sold 1,572 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were 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 $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John David Risher purchased 6,538 shares of the stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the transaction, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research reports. Canaccord Genuity Group decreased their price target on shares of Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Thursday, August 7th. Sanford C. Bernstein increased their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating and set a $21.00 price target on shares of Lyft in a research report on Thursday, June 5th. Oppenheimer cut their target price on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and a consensus target price of $16.70.

Lyft Stock Up 7.6%

Shares of NASDAQ:LYFT traded up $1.20 during midday trading on Friday, hitting $17.01. 24,096,065 shares of the company's stock were exchanged, compared to its average volume of 18,142,844. 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 stock has a 50 day moving average price of $14.95 and a 200-day moving average price of $13.83. The company has a market cap of $6.91 billion, a PE ratio of 70.88, a price-to-earnings-growth ratio of 2.54 and a beta of 2.26. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly 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 return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS 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.