Landscape Capital Management L.L.C. Grows Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Landscape Capital Management increased its holdings in Lyft, Inc. by 155% during the first quarter, acquiring an additional 70,287 shares for a total of 115,624 shares valued at $1.37 million.
• Lyft's quarterly earnings report showed a missed estimate with earnings per share of $0.10 compared to the consensus of $0.27, while revenue of $1.59 billion fell short of expectations.
• Insiders, including CFO Erin Brewer, sold significant amounts of Lyft stock recently, with totals amounting to $701,966 over the last 90 days.

Landscape Capital Management L.L.C. boosted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 155.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 115,624 shares of the ride-sharing company's stock after acquiring an additional 70,287 shares during the period. Landscape Capital Management L.L.C.'s holdings in Lyft were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. Spurstone Advisory Services LLC bought a new stake in Lyft during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Lyft during the 1st quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft in the 1st quarter worth approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Lyft by 79.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock worth $46,000 after buying an additional 1,769 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of LYFT stock traded up $0.09 during mid-day trading on Wednesday, hitting $16.89. The company had a trading volume of 43,758,171 shares, compared to its average volume of 18,256,973. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The stock's 50 day moving average price is $15.21 and its 200-day moving average price is $13.98. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07. The company has a market capitalization of $6.86 billion, a P/E ratio of 70.38, a P/E/G ratio of 2.65 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 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares in the company, valued at $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider directly owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,821 shares of company stock valued at $701,966. 3.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and increased their price objective for the company from $16.00 to $21.00 in a research note on Tuesday, June 24th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Roth Capital raised Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Thursday, August 7th. Wells Fargo & Company increased their price objective on Lyft from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Sanford C. Bernstein boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $16.83.

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.