Wealth Enhancement Advisory Services LLC Acquires 60,438 Shares of Lyft, Inc. (NASDAQ:LYFT)

Wealth Enhancement Advisory Services LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 70.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,038 shares of the ride-sharing company's stock after acquiring an additional 60,438 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Lyft were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Lyft by 828.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock worth $85,947,000 after purchasing an additional 5,945,000 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Lyft by 156.9% during the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock worth $103,524,000 after purchasing an additional 4,901,358 shares in the last quarter. Norges Bank bought a new position in shares of Lyft during the fourth quarter worth $49,599,000. Finally, Capital World Investors boosted its position in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after purchasing an additional 2,240,478 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the sale, the insider now owns 959,697 shares of the company's stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John David Risher acquired 6,538 shares of the business's stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, with a total value of $99,966.02. Following the acquisition, the chief executive officer now directly owns 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 26,732 shares of company stock valued at $347,159 in the last quarter. Company insiders own 3.07% of the company's stock.

Lyft Stock Down 0.8%

Shares of LYFT opened at $15.72 on Monday. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.07. The firm has a market cap of $6.57 billion, a P/E ratio of 104.80, a price-to-earnings-growth ratio of 3.08 and a beta of 2.22. The firm's 50-day simple moving average is $14.77 and its 200 day simple moving average is $13.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company posted $0.15 EPS. The firm's quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on LYFT shares. Tigress Financial restated a "buy" rating and set a $28.00 price objective (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Wells Fargo & Company dropped their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Barclays raised their price objective on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Finally, Oppenheimer restated an "outperform" rating and set a $17.00 price objective (up from $15.00) on shares of Lyft in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and an average price target of $16.64.

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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