OMNI 360 Wealth Inc. Makes New $358,000 Investment in Lyft, Inc. $LYFT

Key Points

• OMNI 360 Wealth Inc. invested approximately $358,000 in Lyft by purchasing 22,729 shares during the second quarter, according to its SEC filing.
• Lyft's stock opened at $18.62 with a market capitalization of $7.57 billion and a PE ratio of 77.59.
• The ride-sharing company reported a quarterly EPS of $0.10, missing expectations, with revenue of $1.59 billion, a 10.6% increase compared to the same quarter last year.

OMNI 360 Wealth Inc. purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,729 shares of the ride-sharing company's stock, valued at approximately $358,000.

Other large investors have also added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new stake in Lyft in the 4th quarter worth $25,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 1,237 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Lyft during the 1st quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lyft during the 1st quarter valued at about $35,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lyft by 79.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,769 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of LYFT stock opened at $18.62 on Friday. The company has a 50 day moving average price of $15.52 and a 200-day moving average price of $14.23. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $19.35. The firm has a market capitalization of $7.57 billion, a PE ratio of 77.59, a P/E/G ratio of 2.87 and a beta of 2.33. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYFT shares. Tigress Financial reaffirmed a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Citigroup reissued a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th. Sanford C. Bernstein boosted their price objective on shares of Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Finally, Roth Capital raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price objective on the stock in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lyft currently has a consensus rating of "Hold" and an average price target of $17.07.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John David Risher bought 5,926 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. This trade represents a 0.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,821 shares of company stock worth $960,566. 3.07% of the stock is owned by company insiders.

Lyft 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.

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