Outfitter Financial LLC Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

Outfitter Financial LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,450 shares of the ride-sharing company's stock, valued at approximately $302,000.

A number of other large investors have also added to or reduced their stakes in the company. Amalgamated Bank grew its holdings 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 acquiring an additional 892 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings 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 acquiring an additional 914 shares during the last quarter. Guggenheim Capital LLC grew its holdings in Lyft by 6.4% in 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. lifted its position in shares of Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after purchasing an additional 1,058 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Lyft by 1.4% in 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 purchasing an additional 1,132 shares during the period. Institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LYFT shares. KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Wall Street Zen raised shares of Lyft from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Oppenheimer raised their target price on shares of Lyft from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Susquehanna raised their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $16.78.

Lyft Stock Performance

Shares of LYFT stock traded down $0.30 during trading hours on Friday, reaching $14.47. The company had a trading volume of 2,822,931 shares, compared to its average volume of 16,185,197. The business has a fifty day moving average price of $15.69 and a 200-day moving average price of $13.66. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The firm has a market cap of $6.05 billion, a PE ratio of 96.82, a price-to-earnings-growth ratio of 2.93 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77.

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

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the transaction, the insider owned 959,697 shares of the company's stock, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the transaction, the director directly owned 879,498 shares in the company, valued at $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 have sold 26,732 shares of company stock valued at $347,159. Company insiders own 3.07% of the company's stock.

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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