Byrne Asset Management LLC Purchases 36,941 Shares of Lyft, Inc. (NASDAQ:LYFT)

Byrne Asset Management LLC increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 1,368.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,641 shares of the ride-sharing company's stock after acquiring an additional 36,941 shares during the period. Byrne Asset Management LLC's holdings in Lyft were worth $471,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lyft in the fourth quarter valued at approximately $29,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Lyft in the fourth quarter valued at approximately $445,000. Empowered Funds LLC grew its position in shares of Lyft by 6.9% in the fourth quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock valued at $275,000 after purchasing an additional 1,382 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Lyft in the fourth quarter valued at approximately $1,034,000. Finally, Van ECK Associates Corp grew its position in shares of Lyft by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock valued at $5,146,000 after purchasing an additional 49,138 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

LYFT has been the topic of several research reports. Wall Street Zen downgraded Lyft from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. KeyCorp reissued a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. The Goldman Sachs Group raised Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 9th. Royal Bank of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Lyft in a research report on Thursday, June 5th. Finally, Loop Capital reduced their price target on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $16.40.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher purchased 6,538 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, with a total value of $99,966.02. Following the completion of the acquisition, the chief executive officer now owns 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the transaction, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock valued at $347,159 in the last 90 days. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded down $0.66 during mid-day trading on Friday, reaching $14.78. The company had a trading volume of 12,715,401 shares, compared to its average volume of 16,114,849. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 246.33, a PEG ratio of 1.90 and a beta of 2.22. The company's 50-day moving average price is $13.92 and its 200-day moving average price is $13.58. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $0.15 EPS. The company's revenue was up 13.5% compared to the same quarter last year. As a group, equities research 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.