Diversified Trust Co Invests $282,000 in Lyft, Inc. (NASDAQ:LYFT)

Diversified Trust Co purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,772 shares of the ride-sharing company's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Spurstone Advisory Services LLC bought a new position in shares of Lyft during the fourth quarter valued at $25,000. GAMMA Investing LLC increased its position in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after purchasing an additional 1,237 shares in the last quarter. Plato Investment Management Ltd bought a new position in Lyft during the 4th quarter valued at about $35,000. FNY Investment Advisers LLC bought a new position in Lyft during the 1st quarter valued at about $35,000. Finally, Harbour Investments Inc. boosted its position in Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director directly owned 879,498 shares of the company's stock, valued at approximately $13,896,068.40. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of Lyft 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 26,732 shares of company stock worth $347,159 over the last three months. 3.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Oppenheimer reaffirmed an "outperform" rating and set a $17.00 price target (up from $15.00) on shares of Lyft in a report on Friday, May 9th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Morgan Stanley decreased their target price on Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Tigress Financial restated a "buy" rating and issued a $28.00 target price (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.64.

Lyft Stock Up 2.4%

Shares of NASDAQ LYFT traded up $0.38 during mid-day trading on Thursday, reaching $16.09. 7,596,459 shares of the company's stock were exchanged, compared to its average volume of 16,249,464. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 107.23, a PEG ratio of 3.08 and a beta of 2.20. The business has a fifty day simple moving average of $15.05 and a 200 day simple moving average of $13.53.

Lyft (NASDAQ:LYFT - Get Free Report) last posted 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 return on equity of 11.28% and a net margin of 0.95%. 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 company posted $0.15 earnings per share. Lyft's revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Lyft, Inc. will post 0.22 EPS 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.