Lyft, Inc. $LYFT Shares Newly Purchased by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC purchased 414,655 Lyft shares worth approximately $6.2 million, while institutional investors collectively own 83.07% of the company.
• Lyft shares recently traded at $16.21, up 0.5%. The company’s latest quarterly revenue rose 16.1% year over year to $1.84 billion, though adjusted earnings per share came in slightly below analyst expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $19.03; insiders have sold 112,020 shares worth approximately $1.85 million over the past 90 days.

Insight Wealth Strategies LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 414,655 shares of the ride-sharing company's stock, valued at approximately $6,224,000. Insight Wealth Strategies LLC owned 0.11% of Lyft at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Contour Asset Management LLC purchased a new position in Lyft in the 4th quarter valued at approximately $75,870,000. Principal Financial Group Inc. boosted its position in Lyft by 250.0% during the first quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company's stock worth $56,479,000 after purchasing an additional 3,033,333 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock valued at $101,905,000 after purchasing an additional 2,607,417 shares during the last quarter. Junto Capital Management LP acquired a new stake in Lyft in the second quarter valued at $36,926,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company's stock valued at $89,360,000 after buying an additional 2,467,010 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Insider Buying and Selling at Lyft

In other Lyft news, Director Jill Beggs sold 2,307 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total value of $40,003.38. Following the sale, the director directly owned 46,238 shares of the company's stock, valued at approximately $801,766.92. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Thursday, September 24th. The shares were sold at an average price of $14.64, for a total value of $219,600.00. Following the completion of the sale, the chief financial officer owned 837,303 shares of the company's stock, valued at $12,258,115.92. This trade represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 112,020 shares of company stock valued at $1,850,559. 0.92% of the stock is currently owned by insiders.

Lyft Trading Up 0.5%

Shares of LYFT traded up $0.09 on Friday, hitting $16.21. 3,769,138 shares of the stock traded hands, compared to its average volume of 13,968,847. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The stock's 50 day moving average is $16.28 and its two-hundred day moving average is $14.95. The firm has a market capitalization of $6.14 billion, a P/E ratio of 2.36, a P/E/G ratio of 0.99 and a beta of 1.95. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT - Get Free Report) last released its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts predict that Lyft, Inc. will post 0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LYFT. UBS Group boosted their price objective on shares of Lyft from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Roth Capital restated a "buy" rating and set a $25.00 target price (up from $23.00) on shares of Lyft in a research report on Monday, August 10th. William Blair downgraded shares of Lyft to a "market perform" rating in a report on Wednesday, June 17th. Morgan Stanley increased their price target on shares of Lyft from $17.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Finally, Oppenheimer began coverage on shares of Lyft in a research note on Wednesday, June 17th. They set an "outperform" rating for the company. Eleven research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lyft currently has an average rating of "Hold" and a consensus target price of $19.03.

About Lyft

Lyft, Inc is a technology company that operates a transportation platform in the United States and Canada. Through its mobile application and website, Lyft connects riders with drivers who provide on-demand and scheduled transportation services, including rides in private vehicles and taxis.

The company also offers a range of related services, such as bikes and scooters in select markets, airport transportation, business travel programs and tools for organizations managing transportation.

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