EP Wealth Advisors LLC Takes Position in Lyft, Inc. $LYFT

EP Wealth Advisors LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,917 shares of the ride-sharing company's stock, valued at approximately $272,000.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Group Inc. bought a new position in Lyft during the first quarter valued at approximately $130,434,000. Two Sigma Advisers LP boosted its position in shares of Lyft by 828.5% during the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock valued at $85,947,000 after acquiring an additional 5,945,000 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock valued at $294,978,000 after acquiring an additional 5,178,118 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Lyft by 156.9% in the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock valued at $103,524,000 after purchasing an additional 4,901,358 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Lyft by 83,744.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company's stock worth $37,331,000 after purchasing an additional 3,141,240 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Insider Activity

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares of the company's stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John David Risher purchased 5,926 shares of the stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. The trade was a 0.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 59,821 shares of company stock valued at $960,566 over the last ninety days. 3.07% of the stock is currently owned by insiders.

Lyft Stock Up 1.6%

LYFT stock traded up $0.30 during trading on Friday, hitting $18.62. 29,294,775 shares of the company's stock traded hands, compared to its average volume of 20,049,574. The firm has a market capitalization of $7.57 billion, a P/E ratio of 77.59, a PEG ratio of 2.87 and a beta of 2.33. The business has a fifty day simple moving average of $15.52 and a two-hundred day simple moving average of $14.23. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.35.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYFT shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Oppenheimer dropped their price target on Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Wall Street Zen lowered Lyft from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Roth Capital upgraded Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target for the company in a research report on Thursday, August 7th. Finally, Tigress Financial reiterated a "buy" rating and issued a $28.00 price target (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.07.

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.