Staley Capital Advisers Inc. Has $306,000 Position in Lyft, Inc. $LYFT

Key Points

• Staley Capital Advisers cut its Lyft position by 74.2% in the first quarter, leaving it with 23,014 shares valued at about $306,000.
• Wall Street sentiment remains mixed: Lyft has an average Hold rating, with 13 Buy, 21 Hold, and 3 Sell ratings and an average price target of $19.40.
• Insider activity has leaned toward selling, including CFO Erin Brewer and director Jill Beggs, while Lyft also reported Q1 EPS of $0.04, missing estimates even as revenue rose 17.2% year over year to $1.65 billion.

Staley Capital Advisers Inc. decreased its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 74.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,014 shares of the ride-sharing company's stock after selling 66,034 shares during the period. Staley Capital Advisers Inc.'s holdings in Lyft were worth $306,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Lyft during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $40,000. Huntington National Bank raised its holdings in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock valued at $42,000 after acquiring an additional 1,374 shares in the last quarter. CI Investments Inc. grew its stake in Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company's stock worth $51,000 after buying an additional 653 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Lyft by 763.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,073 shares of the ride-sharing company's stock worth $59,000 after acquiring an additional 2,717 shares during the period. Institutional investors own 83.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LYFT. William Blair lowered Lyft to a "market perform" rating in a research note on Wednesday, June 17th. Oppenheimer began coverage on Lyft in a research note on Wednesday, June 17th. They set an "outperform" rating for the company. Roth Capital restated a "buy" rating and issued a $23.00 price target on shares of Lyft in a research note on Friday, May 8th. Canaccord Genuity Group lowered their price objective on shares of Lyft from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Friday, May 8th. Finally, Truist Financial boosted their target price on shares of Lyft from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and an average target price of $19.40.

Insider Buying and Selling at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the firm'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 transaction, the chief financial officer directly owned 705,979 shares of the company's stock, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their position. 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 three months, insiders have sold 69,196 shares of company stock worth $992,371. Corporate insiders own 0.92% of the company's stock.

Lyft Trading Down 1.7%

NASDAQ:LYFT opened at $15.17 on Thursday. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The stock 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. The firm has a fifty day simple moving average of $14.12 and a two-hundred day simple moving average of $15.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly 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 negative return on equity of 2.09% and a net margin of 43.82%.The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.01 earnings per share. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. Analysts expect that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Lyft Company Profile

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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