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Lyft, Inc. (NASDAQ:LYFT) Shares Sold by KBC Group NV

Lyft logo with Computer and Technology background

KBC Group NV decreased its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 93.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,667 shares of the ride-sharing company's stock after selling 249,518 shares during the quarter. KBC Group NV's holdings in Lyft were worth $198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYFT. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Lyft by 79.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after acquiring an additional 1,769 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Lyft during the 1st quarter valued at $1,094,000. Diversified Trust Co bought a new stake in shares of Lyft during the 1st quarter valued at $282,000. Creative Financial Designs Inc. ADV lifted its position in shares of Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after acquiring an additional 914 shares during the period. Finally, PSI Advisors LLC lifted its position in shares of Lyft by 36.6% during the 1st quarter. PSI Advisors LLC now owns 5,600 shares of the ride-sharing company's stock valued at $66,000 after acquiring an additional 1,500 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the transaction, the insider directly owned 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director owned 879,498 shares in the company, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is currently owned by insiders.

Lyft Stock Down 2.2%

LYFT stock traded down $0.34 during trading on Thursday, hitting $15.32. 16,495,339 shares of the company's stock traded hands, compared to its average volume of 16,310,628. The firm has a market capitalization of $6.40 billion, a P/E ratio of 102.13, a PEG ratio of 3.23 and a beta of 2.20. The business has a fifty day simple moving average of $15.43 and a two-hundred day simple moving average of $13.60. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business earned $0.15 earnings per share. Lyft's revenue was up 13.5% on a year-over-year basis. 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 recently commented on LYFT shares. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Friday, May 9th. Loop Capital decreased their price target on Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Wall Street Zen upgraded Lyft from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Wells Fargo & Company increased their price target on Lyft from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Barclays increased their price objective on Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.78.

Check Out Our Latest Stock Report on Lyft

Lyft Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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