Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA reduced its stake in Lyft, Inc. by 1.7%, now holding approximately 6.2 million shares valued at $73.7 million after selling 110,140 shares in the first quarter.
• Director Jill Beggs sold 1,572 shares of Lyft for about $25,797, while CEO John David Risher purchased 6,538 shares, increasing his total ownership in the company.
• Lyft's stock opened at $14.04 and reported quarterly earnings of $0.10 EPS, missing estimates, with a consensus forecast of $0.22 EPS for the current fiscal year.

Primecap Management Co. CA lessened its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,204,940 shares of the ride-sharing company's stock after selling 110,140 shares during the quarter. Primecap Management Co. CA owned approximately 1.48% of Lyft worth $73,653,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft in the 4th quarter worth $25,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Lyft in the first quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Lyft during the first quarter worth about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Lyft during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Down 5.5%

Shares of Lyft stock traded down $0.79 on Friday, reaching $13.42. 24,297,227 shares of the company were exchanged, compared to its average volume of 17,530,690. The stock's 50 day moving average price is $15.03 and its 200-day moving average price is $13.75. The company has a market cap of $5.61 billion, a P/E ratio of 55.93, a price-to-earnings-growth ratio of 2.79 and a beta of 2.26. Lyft, Inc. has a 1-year low of $9.53 and a 1-year high of $19.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly 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 14.22% and a net margin of 1.51%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.24 EPS. The company's revenue was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Morgan Stanley decreased their price objective on Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen raised Lyft from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. DA Davidson restated a "neutral" rating and issued a $15.00 target price on shares of Lyft in a research report on Wednesday, April 16th. Finally, Barclays upped their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.64.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total value of $38,299.20. Following the transaction, the director owned 879,498 shares of the company's stock, valued at $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director directly owned 20,467 shares of the company's stock, valued at $335,863.47. This trade represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.