EntryPoint Capital LLC Takes $381,000 Position in Lyft, Inc. $LYFT

Key Points

• EntryPoint Capital LLC acquired 32,129 shares of Lyft, valued at approximately $381,000, during the first quarter, indicating growing institutional interest in the company.
• Several institutional investors, including PNC Financial Services Group and Maxi Investments CY Ltd, made significant gains by increasing their positions in Lyft by over 42% and 320%, respectively, during the same period.
• Lyft's recent earnings report revealed an EPS of $0.10, missing analysts' estimates, while revenue for the quarter was $1.59 billion, showing a 10.6% increase year-over-year.

EntryPoint Capital LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,129 shares of the ride-sharing company's stock, valued at approximately $381,000.

Other hedge funds have also recently made changes to their positions in the company. Spurstone Advisory Services LLC acquired a new position in shares of Lyft during the fourth quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in shares of Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lyft during the first quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Lyft during the first quarter valued at about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Lyft during the fourth quarter valued at about $41,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LYFT shares. Wall Street Zen upgraded shares of Lyft from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Tigress Financial reiterated a "buy" rating and set a $28.00 price objective (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and raised their price target for the company from $16.00 to $21.00 in a research report on Tuesday, June 24th. BMO Capital Markets reissued a "market perform" rating and set a $16.00 price target (up from $15.00) on shares of Lyft in a research report on Thursday, August 7th. Finally, Barclays raised their price target on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Nine analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.83.

Lyft Stock Up 7.6%

Shares of LYFT traded up $1.20 during trading hours on Friday, reaching $17.01. 24,096,065 shares of the stock traded hands, compared to its average volume of 21,216,038. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 70.88, a PEG ratio of 2.77 and a beta of 2.26. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $19.07. The stock has a fifty day simple moving average of $15.00 and a 200 day simple moving average of $13.85.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate 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%.The business's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. On average, equities analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, 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 sale, the director owned 20,467 shares of the company's stock, valued at approximately $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the sale, the chief financial officer directly owned 540,759 shares in the company, valued at approximately $8,241,167.16. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,928 shares of company stock worth $703,839. Insiders own 3.07% of the company's stock.

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.