Poinciana Advisors Group LLC Grows Position in Lyft, Inc. $LYFT

Key Points

• Poinciana Advisors Group LLC increased its stake in Lyft, Inc. by 118.9%, holding 23,022 shares worth approximately $363,000 after purchasing an additional 12,503 shares.
• Lyft's recent quarterly earnings revealed a loss of $0.10 per share, missing analyst expectations, despite a 10.6% increase in revenue year-over-year.
• CEO John David Risher bought 5,926 shares of Lyft's stock, while CFO Erin Brewer sold 15,000 shares, indicating mixed insider activity.

Poinciana Advisors Group LLC lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 118.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,022 shares of the ride-sharing company's stock after buying an additional 12,503 shares during the quarter. Poinciana Advisors Group LLC's holdings in Lyft were worth $363,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Toronto Dominion Bank acquired a new position in shares of Lyft in the 4th quarter worth approximately $279,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Lyft by 157.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 85,600 shares of the ride-sharing company's stock worth $1,104,000 after buying an additional 52,333 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Lyft by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 355,864 shares of the ride-sharing company's stock worth $4,591,000 after buying an additional 1,783 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Lyft by 2,053.7% in the 1st quarter. GAMMA Investing LLC now owns 32,714 shares of the ride-sharing company's stock worth $388,000 after buying an additional 31,195 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Lyft by 7.3% during the first quarter. Rhumbline Advisers now owns 417,709 shares of the ride-sharing company's stock worth $4,958,000 after purchasing an additional 28,357 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of Lyft stock opened at $22.93 on Tuesday. 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 stock's 50-day moving average is $17.00 and its 200-day moving average is $15.00. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 95.55, a price-to-earnings-growth ratio of 3.42 and a beta of 2.33. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.Lyft's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LYFT shares. Cowen reiterated a "buy" rating on shares of Lyft in a report on Wednesday, September 24th. Sanford C. Bernstein upped their price target on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. TD Cowen upped their price target on Lyft from $22.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a research note on Thursday, June 5th. Finally, Jefferies Financial Group upped their price target on Lyft from $15.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, September 18th. Ten research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lyft presently has an average rating of "Hold" and a consensus target price of $18.84.

Insider Activity at Lyft

In other Lyft news, CEO John David Risher bought 5,926 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the transaction, the chief financial officer owned 525,759 shares of the company's stock, valued at $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,427 shares of company stock worth $1,252,686. 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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