waypoint wealth counsel Makes New $364,000 Investment in Lyft, Inc. $LYFT

Key Points

• Waypoint Wealth Counsel purchased a new position in Lyft, investing approximately $364,000 for 23,111 shares in the second quarter.
• CEO John David Risher acquired 5,926 shares of Lyft, increasing his ownership stake, while CFO Erin Brewer sold 15,000 shares, reducing her stake by 2.70%.
• Research analysts have mixed ratings on Lyft, with target prices ranging from $12.00 to $26.00, highlighting the stock's current average rating of "Hold" at an average price target of $19.02.

waypoint wealth counsel bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,111 shares of the ride-sharing company's stock, valued at approximately $364,000.

Several other large investors have also added to or reduced their stakes in LYFT. Rakuten Group Inc. acquired a new stake in Lyft during the first quarter worth approximately $130,434,000. Ameriprise Financial Inc. grew its position in shares of Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after buying an additional 5,178,118 shares during the period. AQR Capital Management LLC grew its position in shares of Lyft by 103.3% during the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Lyft by 83,744.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company's stock worth $37,331,000 after buying an additional 3,141,240 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Lyft during the 1st quarter worth approximately $31,143,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Insiders Place Their Bets

In other news, CEO John David Risher purchased 5,926 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Erin Brewer sold 15,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,427 shares of company stock valued at $1,252,686 in the last three months. 3.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LYFT. Mizuho began coverage on shares of Lyft in a report on Tuesday, September 30th. They issued a "neutral" rating and a $24.00 price target for the company. Bank of America raised their target price on Lyft from $12.00 to $14.00 and gave the company an "underperform" rating in a research note on Thursday, September 18th. Benchmark raised their target price on Lyft from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Wells Fargo & Company raised their price objective on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Finally, Citigroup reissued a "hold" rating and issued a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $19.02.

Lyft Price Performance

LYFT stock opened at $19.25 on Friday. The company has a market capitalization of $7.82 billion, a P/E ratio of 80.21, a price-to-earnings-growth ratio of 3.01 and a beta of 2.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50. The business has a 50-day simple moving average of $18.26 and a two-hundred day simple moving average of $15.56.

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

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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