Cwm LLC Grows Stake in Lyft, Inc. $LYFT

Key Points

• Cwm LLC increased its stake in Lyft by 193.7% during the second quarter, now holding 538,791 shares valued at approximately $8.49 million.
• Insider trading was noted, with Lindsey Catherine Llewellyn selling 28,356 shares for over $449,000, while CEO John David Risher acquired 5,926 shares for about $100,030.
• Lyft's stock saw multiple analysts adjusting their price targets, with a consensus target of $19.12 and an average rating of "Hold" among eleven analysts.

Cwm LLC raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 193.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 538,791 shares of the ride-sharing company's stock after acquiring an additional 355,340 shares during the quarter. Cwm LLC owned approximately 0.13% of Lyft worth $8,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Neuberger Berman Group LLC lifted its stake in shares of Lyft by 3.7% during the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock valued at $290,000 after buying an additional 868 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Lyft by 4.0% during the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock valued at $277,000 after buying an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after buying an additional 914 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Lyft by 39.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company's stock valued at $65,000 after buying an additional 1,160 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 1,203 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider owned 850,388 shares of the company's stock, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John David Risher acquired 5,926 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the purchase, the chief executive officer directly owned 11,797,266 shares in the company, valued at $199,137,850.08. This represents a 0.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 74,427 shares of company stock valued at $1,252,686 in the last quarter. Insiders own 3.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LYFT. Mizuho began coverage on shares of Lyft in a research note on Tuesday, September 30th. They set a "neutral" rating and a $24.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lyft from $16.00 to $21.00 and gave the company a "hold" rating in a research note on Thursday, September 18th. UBS Group upped their target price on shares of Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Citigroup reaffirmed a "hold" rating and set a $14.00 target price (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Finally, Morgan Stanley upped their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.12.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $20.13 on Wednesday. The company's fifty day moving average price is $18.49 and its 200-day moving average price is $15.67. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 83.88, a PEG ratio of 3.13 and a beta of 2.40. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

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

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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