CenterBook Partners LP Sells 311,550 Shares of Lyft, Inc. (NASDAQ:LYFT)

CenterBook Partners LP trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 234,491 shares of the ride-sharing company's stock after selling 311,550 shares during the period. CenterBook Partners LP owned approximately 0.06% of Lyft worth $2,783,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Spurstone Advisory Services LLC purchased a new stake in shares of Lyft during the fourth quarter worth about $25,000. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 1,237 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Lyft in the first quarter valued at approximately $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Lyft during the first quarter worth $35,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Up 0.3%

LYFT stock traded up $0.05 during trading on Wednesday, reaching $14.93. The stock had a trading volume of 11,432,489 shares, compared to its average volume of 16,262,036. The company has a market capitalization of $6.24 billion, a P/E ratio of 99.53, a PEG ratio of 2.92 and a beta of 2.20. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. The firm has a fifty day moving average price of $15.61 and a 200 day moving average price of $13.64. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66.

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

Insider Activity at Lyft

In other Lyft news, Director Jill Beggs sold 1,572 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the transaction, the director directly owned 20,467 shares in the company, valued at $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John David Risher bought 6,538 shares of the company's stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,732 shares of company stock worth $347,159 in the last quarter. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on LYFT shares. Tigress Financial reiterated a "buy" rating and set a $28.00 price objective (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price on the stock. in a report on Thursday, April 3rd. Susquehanna lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Morgan Stanley cut their target price on Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company upped their price objective on Lyft from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.78.

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.