Cerity Partners LLC Has $2.13 Million Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Cerity Partners LLC increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,287 shares of the ride-sharing company's stock after acquiring an additional 55,399 shares during the quarter. Cerity Partners LLC's holdings in Lyft were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. Allworth Financial LP grew its stake in shares of Lyft by 18.8% in the 1st quarter. Allworth Financial LP now owns 10,897 shares of the ride-sharing company's stock worth $131,000 after buying an additional 1,726 shares during the last quarter. Poinciana Advisors Group LLC purchased a new stake in Lyft during the 1st quarter valued at $125,000. Banque Pictet & Cie SA purchased a new stake in Lyft during the 1st quarter valued at $119,000. World Investment Advisors boosted its stake in Lyft by 29.8% during the 1st quarter. World Investment Advisors now owns 18,598 shares of the ride-sharing company's stock valued at $221,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Impax Asset Management Group plc purchased a new stake in Lyft during the 1st quarter valued at $7,122,000. Institutional investors own 83.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LYFT shares. UBS Group boosted their price objective on Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Sanford C. Bernstein upped their target price on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday. DA Davidson reaffirmed a "neutral" rating and set a $15.00 target price on shares of Lyft in a research note on Wednesday, April 16th. Oppenheimer upped their target price on Lyft from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.82.

Lyft Price Performance

Lyft stock traded up $0.09 during mid-day trading on Tuesday, reaching $14.86. 9,530,669 shares of the company's stock traded hands, compared to its average volume of 16,217,470. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 99.07, a PEG ratio of 2.90 and a beta of 2.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $15.65 and a two-hundred day moving average of $13.68.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the firm posted $0.15 EPS. Lyft's revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the transaction, the director directly owned 20,467 shares in the company, valued at $335,863.47. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John David Risher purchased 6,538 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, with a total value of $99,966.02. Following the purchase, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This represents a 0.06% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 26,732 shares of company stock worth $347,159 in the last ninety days. 3.07% of the stock is owned by insiders.

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.