Lyft, Inc. (NASDAQ:LYFT) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP reduced its holdings in Lyft by 35.4%, selling 57,343 shares and now owns 104,613 shares worth approximately $1,242,000.
• Wall Street analysts have mixed opinions on Lyft, with price targets ranging from $10.50 to $20.00 and a consensus rating of "Hold".
• Lyft reported an earnings miss for the last quarter with $0.01 EPS compared to an expected $0.20, despite a 13.5% year-over-year revenue increase to $1.45 billion.

GSA Capital Partners LLP reduced its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 35.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,613 shares of the ride-sharing company's stock after selling 57,343 shares during the quarter. GSA Capital Partners LLP's holdings in Lyft were worth $1,242,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in shares of Lyft by 438.7% during the first quarter. Federated Hermes Inc. now owns 1,555,883 shares of the ride-sharing company's stock valued at $18,468,000 after purchasing an additional 1,267,056 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Lyft during the first quarter valued at approximately $147,000. Heartland Advisors Inc. bought a new position in shares of Lyft during the first quarter valued at approximately $1,823,000. Cetera Investment Advisers boosted its stake in shares of Lyft by 59.5% during the first quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company's stock valued at $338,000 after purchasing an additional 10,619 shares in the last quarter. Finally, Brookwood Investment Group LLC bought a new position in shares of Lyft during the first quarter valued at approximately $344,000. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LYFT shares. UBS Group raised their target price on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Wells Fargo & Company upped their price objective on Lyft from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and increased their target price for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Finally, Morgan Stanley decreased their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $16.98.

Insiders Place Their Bets

In related news, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares of the company's stock, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John David Risher acquired 6,538 shares of Lyft stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is owned by insiders.

Lyft Trading Down 3.1%

Lyft stock traded down $0.44 during trading on Friday, reaching $13.62. The company had a trading volume of 17,504,263 shares, compared to its average volume of 12,894,624. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The stock's 50 day moving average price is $15.20 and its two-hundred day moving average price is $13.73. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 64.86, a PEG ratio of 2.67 and a beta of 2.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Lyft's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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.