Financiere des Professionnels Fonds d investissement inc. Makes New $404,000 Investment in Lyft, Inc. $LYFT

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired a new stake in Lyft, Inc., purchasing 25,623 shares valued at approximately $404,000 during the second quarter.
• Lyft reported disappointing quarterly earnings, with an EPS of $0.10, missing analyst estimates of $0.27, and revenue of $1.59 billion, which was below the anticipated $1.61 billion.
• Insider trading activity includes CEO John David Risher buying 5,926 shares, while CFO Erin Brewer sold 15,000 shares, indicating varied confidence levels among top management.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,623 shares of the ride-sharing company's stock, valued at approximately $404,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth boosted its stake in shares of Lyft by 4.9% during the 4th quarter. Focus Partners Wealth now owns 35,481 shares of the ride-sharing company's stock worth $458,000 after acquiring an additional 1,649 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Lyft by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 181,111 shares of the ride-sharing company's stock worth $2,335,000 after acquiring an additional 6,649 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Lyft by 8.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,458,557 shares of the ride-sharing company's stock worth $18,815,000 after acquiring an additional 109,434 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Lyft during the fourth quarter worth $157,000. Finally, Toronto Dominion Bank bought a new stake in shares of Lyft during the 4th quarter worth about $279,000. 83.07% of the stock is owned by institutional investors.

Lyft Stock Up 2.8%

NASDAQ LYFT traded up $0.62 on Friday, reaching $22.58. The company had a trading volume of 28,599,235 shares, compared to its average volume of 25,427,384. The company's fifty day moving average is $16.11 and its 200-day moving average is $14.54. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $23.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 94.09, a price-to-earnings-growth ratio of 3.53 and a beta of 2.33.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data 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). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYFT. Canaccord Genuity Group raised their price objective on Lyft from $11.00 to $18.00 and gave the company a "hold" rating in a research note on Thursday. BMO Capital Markets boosted their price target on Lyft from $16.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and lifted their price objective for the company from $16.00 to $21.00 in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Lyft from $16.00 to $21.00 and gave the company a "hold" rating in a report on Thursday. Finally, Bank of America boosted their target price on Lyft from $12.00 to $14.00 and gave the stock an "underperform" rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.30.

Insider Transactions at Lyft

In other news, CEO John David Risher bought 5,926 shares of the business's stock in a transaction that occurred 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 purchase, the chief executive officer owned 11,797,266 shares of the company's stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares of the company's stock, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 in the last three months. 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.