First Trust Advisors LP Has $7.77 Million Stake in Lyft, Inc. $LYFT

Key Points

• First Trust Advisors LP reduced its Lyft stake by 10.7% in the first quarter, selling 70,120 shares and retaining 584,281 shares worth approximately $7.77 million. Institutional investors and hedge funds collectively own 83.07% of Lyft.
• Lyft reported quarterly revenue of $1.65 billion, up 17.2% year over year, but earnings per share of $0.04 missed analysts’ $0.30 estimate. Shares recently traded at $15.86, up 2.0%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $19.43; 12 analysts rate the stock Buy, 21 Hold, and four Sell.

First Trust Advisors LP trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584,281 shares of the ride-sharing company's stock after selling 70,120 shares during the period. First Trust Advisors LP owned approximately 0.15% of Lyft worth $7,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Lyft during the 4th quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in Lyft during the 4th quarter valued at approximately $40,000. Huntington National Bank grew its holdings in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock valued at $42,000 after buying an additional 1,374 shares during the last quarter. Bessemer Group Inc. grew its holdings in Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after buying an additional 2,500 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Lyft by 763.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,073 shares of the ride-sharing company's stock valued at $59,000 after buying an additional 2,717 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Trading Up 2.0%

Shares of LYFT opened at $15.86 on Friday. The stock's 50-day moving average price is $14.66 and its 200 day moving average price is $14.63. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 2.32, a P/E/G ratio of 0.94 and a beta of 1.80. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business posted $0.01 EPS. Lyft's revenue was up 17.2% compared to the same quarter last year. As a group, research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00. Following the sale, the insider owned 853,731 shares in the company, valued at $12,805,965. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 45,535 shares of company stock valued at $637,456. Company insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim reiterated a "buy" rating on shares of Lyft in a report on Wednesday, June 10th. Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a research note on Wednesday, May 6th. DA Davidson dropped their target price on shares of Lyft from $19.00 to $14.50 and set a "neutral" rating on the stock in a research report on Monday, May 18th. Citigroup began coverage on shares of Lyft in a research note on Wednesday, June 17th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Lyft from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.43.

Lyft Company Profile

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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