Focus Partners Advisor Solutions LLC Acquires New Position in Lyft, Inc. $LYFT

Key Points

• Focus Partners Advisor Solutions LLC has acquired a new stake of 28,271 shares in Lyft, valued at approximately $336,000, as reported in their recent Form 13F filing.
• Lyft's latest quarterly earnings showed a missed EPS estimate of $0.10 compared to the consensus of $0.27, with revenues of $1.59 billion, which was below analysts' expectations of $1.61 billion.
• Insider transactions included a sale by CFO Erin Brewer of 15,000 shares, indicating a decrease in insider ownership within the company.

Focus Partners Advisor Solutions LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,271 shares of the ride-sharing company's stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new stake in Lyft in the fourth quarter valued at about $25,000. GAMMA Investing LLC increased its stake in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after acquiring an additional 1,237 shares during the period. FNY Investment Advisers LLC bought a new stake in Lyft during the first quarter worth about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft during the first quarter worth about $35,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Lyft by 79.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock worth $46,000 after buying an additional 1,769 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,821 shares of company stock worth $960,566. Corporate insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on LYFT shares. Canaccord Genuity Group decreased their price objective on shares of Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Tigress Financial reaffirmed a "buy" rating and set a $28.00 price objective (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. UBS Group upped their price objective on shares of Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Oppenheimer decreased their price objective on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.07.

Lyft Price Performance

Shares of LYFT stock traded up $0.30 during trading hours on Friday, reaching $18.62. 29,294,775 shares of the company were exchanged, compared to its average volume of 20,049,574. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $19.35. The stock's fifty day moving average is $15.52 and its two-hundred day moving average is $14.22. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 77.59, a P/E/G ratio of 2.87 and a beta of 2.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Lyft's revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft 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.