Los Angeles Capital Management LLC Trims Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Los Angeles Capital Management LLC lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 61.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,128 shares of the ride-sharing company's stock after selling 1,133,695 shares during the period. Los Angeles Capital Management LLC owned approximately 0.17% of Lyft worth $8,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its position in Lyft by 4.0% in the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock worth $277,000 after purchasing an additional 892 shares during the period. Creative Financial Designs Inc. ADV grew its position in Lyft by 11.3% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock worth $107,000 after purchasing an additional 914 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Lyft by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after acquiring an additional 970 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after acquiring an additional 1,058 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Lyft by 1.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock worth $1,081,000 after acquiring an additional 1,132 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LYFT shares. The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 target price (up previously from $26.00) on shares of Lyft in a report on Wednesday, May 21st. UBS Group upped their target price on shares of Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Citigroup reissued a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lyft has a consensus rating of "Hold" and an average target price of $16.95.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider owned 959,697 shares in the company, valued at $11,948,227.65. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,732 shares of company stock worth $347,159. Corporate insiders own 3.07% of the company's stock.

Lyft Stock Down 2.1%

Shares of NASDAQ LYFT traded down $0.31 during midday trading on Thursday, reaching $14.43. 10,002,470 shares of the company's stock traded hands, compared to its average volume of 17,615,219. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 95.95, a P/E/G ratio of 2.92 and a beta of 2.20. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock's 50 day simple moving average is $15.52 and its 200-day simple moving average is $13.70.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The company's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.