Kestra Advisory Services LLC Sells 102,164 Shares of Lyft, Inc. $LYFT

Key Points

• Kestra Advisory Services LLC reduced its Lyft stake by 66.1% in the first quarter, selling 102,164 shares and leaving it with 52,485 shares valued at about $698,000.
• Several other institutional investors have also been active in Lyft, and 83.07% of the stock is currently owned by institutions, signaling heavy institutional involvement in the name.
• Lyft’s latest results showed mixed performance: revenue beat expectations at $1.65 billion and rose 17.2% year over year, but earnings per share came in at $0.04 versus the $0.30 consensus estimate.

Kestra Advisory Services LLC cut its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 66.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,485 shares of the ride-sharing company's stock after selling 102,164 shares during the period. Kestra Advisory Services LLC's holdings in Lyft were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Lyft by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company's stock valued at $567,492,000 after buying an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company's stock worth $191,245,000 after buying an additional 1,320,938 shares in the last quarter. Norges Bank bought a new stake in Lyft during the fourth quarter valued at about $109,987,000. Swedbank AB bought a new stake in Lyft during the fourth quarter valued at about $108,472,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Lyft by 0.6% in the fourth quarter. Altshuler Shaham Ltd now owns 5,054,610 shares of the ride-sharing company's stock valued at $97,908,000 after acquiring an additional 30,048 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LYFT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lyft in a research note on Wednesday, May 6th. Citigroup began coverage on Lyft in a research note on Wednesday, June 17th. They set a "buy" rating on the stock. Morgan Stanley raised Lyft from an "equal weight" rating to an "overweight" rating in a report on Wednesday, June 17th. Oppenheimer started coverage on Lyft in a research note on Wednesday, June 17th. They issued an "outperform" rating for the company. Finally, BTIG Research raised shares of Lyft from a "neutral" rating to a "buy" rating in a report on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Lyft has a consensus rating of "Hold" and a consensus target price of $19.40.

Lyft Stock Up 1.3%

LYFT opened at $14.20 on Friday. The firm has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $14.77. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a market capitalization of $5.39 billion, a PE ratio of 2.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33.

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

Insider Transactions at Lyft

In other Lyft news, CAO Stephen W. Hope sold 5,460 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the transaction, the chief accounting officer owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the sale, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. The trade was a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock valued at $637,456 in the last ninety days. Corporate insiders own 0.92% of the company's stock.

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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