Wealth Enhancement Advisory Services LLC Acquires 52,333 Shares of Lyft, Inc. (NASDAQ:LYFT)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 157.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,600 shares of the ride-sharing company's stock after buying an additional 52,333 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Lyft were worth $1,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft in the fourth quarter valued at $29,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Lyft in the 4th quarter worth approximately $445,000. Empowered Funds LLC lifted its position in Lyft by 6.9% in the 4th quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock worth $275,000 after buying an additional 1,382 shares during the last quarter. Entropy Technologies LP boosted its stake in Lyft by 86.3% in the fourth quarter. Entropy Technologies LP now owns 149,898 shares of the ride-sharing company's stock worth $1,934,000 after buying an additional 69,436 shares in the last quarter. Finally, Savant Capital LLC bought a new position in Lyft during the fourth quarter valued at approximately $1,034,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In other news, CEO John David Risher purchased 6,538 shares of the company's stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the transaction, the chief executive officer now directly owns 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jill Beggs sold 1,572 shares of the company's 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 completion of the transaction, the director now directly owns 20,467 shares of the company's stock, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock worth $347,159 in the last quarter. Company insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.12 during trading on Thursday, reaching $15.44. 9,055,879 shares of the company traded hands, compared to its average volume of 16,138,179. The firm has a 50 day simple moving average of $13.73 and a 200-day simple moving average of $13.65. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The stock has a market capitalization of $6.45 billion, a PE ratio of 257.33, a P/E/G ratio of 1.90 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Citigroup reiterated an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. Wells Fargo & Company dropped their target price on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. DA Davidson restated a "neutral" rating and set a $15.00 price target on shares of Lyft in a research report on Wednesday, April 16th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.40.

About Lyft

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.