KLP Kapitalforvaltning AS Purchases 33,000 Shares of Lyft, Inc. $LYFT

Key Points

• KLP Kapitalforvaltning AS raised its investment in Lyft, Inc. by 42.6% during Q2, now holding 110,400 shares valued at approximately $1.74 million.
• Analysts have set a consensus target price of $19.02 for Lyft stock, with a mix of ratings including ten "Buy" and twenty-two "Hold" recommendations.
• CEO John David Risher purchased 5,926 shares at an average price of $16.88, while CFO Erin Brewer sold 15,000 shares at an average price of $17.24 in recent transactions.

KLP Kapitalforvaltning AS increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 42.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,400 shares of the ride-sharing company's stock after acquiring an additional 33,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Lyft were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. GAMMA Investing LLC increased its holdings in Lyft by 2,053.7% during the 1st quarter. GAMMA Investing LLC now owns 32,714 shares of the ride-sharing company's stock worth $388,000 after acquiring an additional 31,195 shares during the period. NorthCrest Asset Manangement LLC purchased a new position in Lyft in the 1st quarter worth approximately $121,000. Wealth Enhancement Advisory Services LLC grew its stake in Lyft by 70.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 146,038 shares of the ride-sharing company's stock worth $1,733,000 after buying an additional 60,438 shares in the last quarter. QRG Capital Management Inc. grew its stake in Lyft by 10.4% in the 1st quarter. QRG Capital Management Inc. now owns 27,047 shares of the ride-sharing company's stock worth $321,000 after buying an additional 2,554 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Lyft in the 1st quarter worth approximately $35,000. Institutional investors own 83.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on LYFT. Mizuho began coverage on shares of Lyft in a research note on Tuesday, September 30th. They issued a "neutral" rating and a $24.00 price target for the company. Sanford C. Bernstein boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Cowen reissued a "buy" rating on shares of Lyft in a research note on Wednesday, September 24th. Roth Capital raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target for the company in a research note on Thursday, August 7th. Finally, Benchmark boosted their price target on shares of Lyft from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $19.02.

Lyft Price Performance

Shares of Lyft stock opened at $19.25 on Monday. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 80.21, a price-to-earnings-growth ratio of 3.01 and a beta of 2.40. The company has a fifty day moving average of $18.26 and a 200-day moving average of $15.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. Lyft's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Equities research analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher purchased 5,926 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at approximately $199,137,850.08. This represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares of the company's stock, valued at $9,064,085.16. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,427 shares of company stock valued at $1,252,686 in the last quarter. Company insiders own 3.07% of the company's stock.

Lyft Company 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.

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