Ashton Thomas Private Wealth LLC Takes Position in Lyft, Inc. $LYFT

Key Points

• Ashton Thomas Private Wealth LLC acquired 51,133 shares of Lyft, valued at approximately $607,000, during the first quarter, indicating increased institutional interest in the ride-sharing company.
• Lyft's CEO John David Risher purchased 5,926 shares at $16.88 each, while the CFO sold 15,000 shares at $15.24 each, highlighting varied insider trading activity at the company.
• Lyft reported a missed earnings expectation for the last quarter, posting $0.10 EPS against a consensus estimate of $0.27, alongside a revenue of $1.59 billion, falling short of analyst predictions.

Ashton Thomas Private Wealth LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 51,133 shares of the ride-sharing company's stock, valued at approximately $607,000.

Other institutional investors also recently modified their holdings of the company. Spurstone Advisory Services LLC bought a new stake in shares of Lyft in the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its stake 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 last quarter. FNY Investment Advisers LLC bought a new stake in shares of Lyft in the 1st quarter valued at $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lyft in the 1st quarter valued at $35,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,769 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lyft news, CEO John David Risher acquired 5,926 shares of the stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the sale, the chief financial officer owned 540,759 shares of the company's stock, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,821 shares of company stock worth $960,566. Insiders own 3.07% of the company's stock.

Lyft Stock Performance

LYFT opened at $18.32 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company's fifty day moving average price is $15.47 and its two-hundred day moving average price is $14.18. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $19.35. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 76.34, a PEG ratio of 2.97 and a beta of 2.33.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research reports. Susquehanna dropped their target price on shares of Lyft from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a $21.00 target price on shares of Lyft in a research report on Thursday, June 5th. Canaccord Genuity Group dropped their target price on shares of Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday, August 7th. Tigress Financial reiterated a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Finally, UBS Group boosted their target price on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.07.

About Lyft

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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