Invesco Ltd. Sells 16,180 Shares of Lyft, Inc. $LYFT

Key Points

• Invesco Ltd. has reduced its stake in Lyft, Inc. by 2.8%, now owning 567,812 shares valued at approximately $6.74 million.
• Several institutional investors have increased their positions in Lyft, with Vanguard Group Inc. growing its holdings by 5.7% and owning over 38 million shares worth approximately $451.6 million.
• Lyft's CEO John David Risher purchased 6,538 shares recently, increasing his ownership to over 11.7 million shares, demonstrating confidence in the company's performance.

Invesco Ltd. lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,812 shares of the ride-sharing company's stock after selling 16,180 shares during the period. Invesco Ltd. owned 0.14% of Lyft worth $6,740,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Amalgamated Bank grew its stake in Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock valued at $277,000 after acquiring an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Lyft by 11.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after acquiring an additional 914 shares in the last quarter. Guggenheim Capital LLC grew its stake in Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after acquiring an additional 970 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Lyft by 1.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock valued at $1,081,000 after acquiring an additional 1,132 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after acquiring an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

LYFT has been the subject of a number of research reports. Wall Street Zen raised shares of Lyft from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and increased their price target for the stock from $16.00 to $21.00 in a report on Tuesday, June 24th. Wells Fargo & Company increased their price target on shares of Lyft from $14.00 to $15.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 price target on shares of Lyft in a report on Thursday, June 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Friday, May 9th. Nine equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of "Hold" and a consensus target price of $16.83.

Lyft Trading Up 0.5%

LYFT traded up $0.08 during trading on Friday, hitting $16.22. 17,103,169 shares of the stock traded hands, compared to its average volume of 21,885,048. The firm has a 50-day moving average of $15.17 and a 200 day moving average of $13.93. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. 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 firm has a market capitalization of $6.59 billion, a P/E ratio of 67.59, a price-to-earnings-growth ratio of 2.65 and a beta of 2.26.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS 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 company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Activity

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

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.