Private Advisor Group LLC Purchases 92,287 Shares of Lyft, Inc. $LYFT

Key Points

• Private Advisor Group LLC increased its Lyft stake by 53.6% in the first quarter, buying 92,287 additional shares and bringing its total holdings to 264,421 shares valued at about $3.52 million.
• Institutional ownership remains heavy, with several other funds also adding to LYFT positions and institutions collectively owning 83.07% of the stock.
• Lyft’s latest earnings missed EPS expectations at $0.04 versus $0.30 expected, though revenue of $1.65 billion slightly beat estimates; analysts currently rate the stock a consensus Hold with a $19.40 target price.

Private Advisor Group LLC lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 53.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,421 shares of the ride-sharing company's stock after buying an additional 92,287 shares during the quarter. Private Advisor Group LLC owned about 0.07% of Lyft worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LYFT. Empowered Funds LLC raised its holdings in Lyft by 13.7% in the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company's stock worth $287,000 after acquiring an additional 2,921 shares during the period. Focus Partners Wealth grew its position in shares of Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company's stock valued at $607,000 after purchasing an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Lyft in the second quarter valued at about $470,000. Invesco Ltd. increased its stake in shares of Lyft by 87.5% in the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company's stock worth $16,783,000 after purchasing an additional 497,118 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company's stock worth $11,177,000 after purchasing an additional 79,634 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 5,460 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the sale, the chief accounting officer owned 335,463 shares of the company's stock, valued at $4,615,970.88. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the sale, the chief financial officer owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 69,196 shares of company stock valued at $992,371. 0.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LYFT has been the topic of a number of research analyst reports. Zacks Research raised Lyft from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. Morgan Stanley raised shares of Lyft from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, June 17th. Guggenheim reiterated a "buy" rating on shares of Lyft in a research note on Wednesday, June 10th. Sanford C. Bernstein assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They issued an "underperform" rating for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a research report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.40.

Lyft Price Performance

NASDAQ:LYFT opened at $15.17 on Thursday. The company has a 50-day moving average of $14.12 and a 200-day moving average of $15.09. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 2.21, a PEG ratio of 0.92 and a beta of 1.80. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $0.01 EPS. The business's revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

About Lyft

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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