Kera Capital Partners Inc. Invests $287,000 in Lyft, Inc. $LYFT

Key Points

• Kera Capital Partners Inc. has invested approximately $287,000 in Lyft, acquiring 18,216 shares of the company during the 2nd quarter.
• Lyft's stock price has increased by 1.6%, opening at $18.62, while analysts project a consensus target price of $17.07.
• Insider trades reveal that significant company executives, including CFO Erin Brewer, sold tens of thousands of shares, representing a decrease in their positions.

Kera Capital Partners Inc. acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,216 shares of the ride-sharing company's stock, valued at approximately $287,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Lyft by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company's stock worth $115,000 after purchasing an additional 2,871 shares in the last quarter. Maxi Investments CY Ltd increased its stake in shares of Lyft by 320.4% in the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company's stock worth $11,228,000 after purchasing an additional 720,933 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Lyft in the 1st quarter worth $2,191,000. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Lyft by 40.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,314 shares of the ride-sharing company's stock worth $1,221,000 after purchasing an additional 29,912 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after purchasing an additional 5,178,118 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Up 1.6%

Shares of NASDAQ:LYFT opened at $18.62 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $19.35. The company has a 50-day moving average price of $15.52 and a 200 day moving average price of $14.23. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 77.59, a PEG ratio of 2.87 and a beta of 2.33.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results 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 net margin of 1.51% and a return on equity of 14.32%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business posted $0.24 EPS. The firm's revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer directly owned 540,759 shares of the company's stock, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,821 shares of company stock valued at $960,566. Insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Lyft from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Wall Street Zen lowered Lyft from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Canaccord Genuity Group cut their price target on Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Thursday, August 7th. Morgan Stanley increased their price target on Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Sanford C. Bernstein increased their price target on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Nine investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lyft presently has an average rating of "Hold" and a consensus target price of $17.07.

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.

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