Waypoint Wealth Partners Inc. Acquires 20,226 Shares of Lyft, Inc. $LYFT

Key Points

• Waypoint Wealth Partners Inc. increased its stake in Lyft by 89.0% during Q2, owning 42,962 shares valued at approximately $677,000.
• Several hedge funds significantly boosted their stakes in Lyft, with NorthCrest Asset Management and Wealth Enhancement Advisory Services increasing their holdings by over 145% and 150%, respectively.
• Lyft's CFO recently sold 15,000 shares at an average price of $17.24, reflecting a 2.77% decrease in their ownership stake, amid overall insider sales totaling 74,427 shares valued at over $1.25 million in the past three months.

Waypoint Wealth Partners Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 89.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,962 shares of the ride-sharing company's stock after buying an additional 20,226 shares during the period. Waypoint Wealth Partners Inc.'s holdings in Lyft were worth $677,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LYFT. PNC Financial Services Group Inc. grew its position in shares of Lyft by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company's stock valued at $115,000 after buying an additional 2,871 shares during the last quarter. Maxi Investments CY Ltd raised its stake in Lyft by 320.4% during the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company's stock worth $11,228,000 after buying an additional 720,933 shares during the period. Polar Asset Management Partners Inc. acquired a new position in Lyft during the 1st quarter worth approximately $2,191,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Lyft by 40.2% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,314 shares of the ride-sharing company's stock worth $1,221,000 after buying an additional 29,912 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in 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 acquiring an additional 5,178,118 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Trading Up 2.8%

Shares of LYFT traded up $0.62 during midday trading on Friday, hitting $22.58. 28,599,235 shares of the stock were exchanged, compared to its average volume of 25,427,384. The firm has a market cap of $9.18 billion, a P/E ratio of 94.09, a P/E/G ratio of 3.53 and a beta of 2.33. The stock has a fifty day simple moving average of $16.11 and a 200 day simple moving average of $14.54. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50. 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 (NASDAQ:LYFT - Get Free Report) last posted 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). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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 dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares of the company's stock, valued at $8,241,167.16. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John David Risher acquired 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 74,427 shares of company stock valued at $1,252,686 in the last ninety days. Insiders own 3.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LYFT shares. BMO Capital Markets boosted their price objective on Lyft from $16.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price target on shares of Lyft in a research report on Thursday, June 5th. Sanford C. Bernstein raised their price objective on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Oppenheimer increased their price target on shares of Lyft from $17.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their price target on Lyft from $11.00 to $18.00 and gave the company a "hold" rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.30.

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.