Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Cwm LLC

CWM LLC lifted its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 57.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,451 shares of the ride-sharing company's stock after acquiring an additional 66,894 shares during the period. CWM LLC's holdings in Lyft were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LYFT. Proficio Capital Partners LLC acquired a new stake in shares of Lyft in the 4th quarter valued at about $176,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lyft by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,914 shares of the ride-sharing company's stock worth $928,000 after buying an additional 4,246 shares during the last quarter. Swiss National Bank raised its holdings in shares of Lyft by 2.4% in the 4th quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company's stock worth $9,680,000 after purchasing an additional 17,900 shares during the period. Harbour Investments Inc. raised its holdings in shares of Lyft by 259.7% in the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after purchasing an additional 2,000 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Lyft by 10.5% in the 4th quarter. Xponance Inc. now owns 43,045 shares of the ride-sharing company's stock worth $555,000 after purchasing an additional 4,087 shares during the period. 83.07% of the stock is owned by institutional investors.

Insider Activity

In other Lyft news, Director Jill Beggs sold 1,572 shares of the company'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. This represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John David Risher bought 6,538 shares of the company's stock in a transaction on Thursday, May 29th. The stock was bought at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at approximately $180,289,588.60. This represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 26,732 shares of company stock valued at $347,159. Company insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of Lyft stock remained flat at $14.76 on Friday. 11,638,651 shares of the stock traded hands, compared to its average volume of 16,248,863. The firm has a 50-day moving average of $15.65 and a 200-day moving average of $13.68. The company has a market capitalization of $6.17 billion, a PE ratio of 98.40, a PEG ratio of 2.90 and a beta of 2.20. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last announced 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). The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. 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 several recent research reports. Oppenheimer increased their target price on Lyft from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 price target on shares of Lyft in a report on Thursday, June 5th. JPMorgan Chase & Co. upped their price target on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and upped their price target for the stock from $16.00 to $21.00 in a report on Tuesday, June 24th. Finally, Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price target (up previously from $26.00) on shares of Lyft in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.78.

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.