Cetera Advisor Networks LLC boosted its position in Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,956 shares of the ride-sharing company’s stock after purchasing an additional 1,062 shares during the period. Cetera Advisor Networks LLC’s holdings in Lyft were worth $1,230,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of LYFT. Amundi Pioneer Asset Management Inc. bought a new position in Lyft in the 1st quarter valued at about $39,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Lyft in the 2nd quarter valued at about $2,893,000. Amundi bought a new position in Lyft in the 2nd quarter valued at about $6,170,000. Public Employees Retirement System of Ohio raised its holdings in Lyft by 21.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 163,083 shares of the ride-sharing company’s stock valued at $9,863,000 after acquiring an additional 29,266 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Lyft by 15.2% in the 2nd quarter. California State Teachers Retirement System now owns 519,762 shares of the ride-sharing company’s stock valued at $31,435,000 after acquiring an additional 68,695 shares during the period. Institutional investors and hedge funds own 80.44% of the company’s stock.
In other news, insider Kristin Sverchek sold 4,000 shares of Lyft stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $43.71, for a total transaction of $174,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 23,856 shares of company stock worth $1,003,447. 5.77% of the stock is owned by company insiders.
LYFT has been the topic of several research analyst reports. BTIG Research lowered their price target on shares of Lyft from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 9th. Jefferies Financial Group cut shares of Lyft from a “buy” rating to a “hold” rating and lowered their target price for the stock from $78.00 to $50.00 in a report on Friday, January 7th. They noted that the move was a valuation call. Susquehanna lowered their target price on shares of Lyft from $80.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, February 9th. Piper Sandler lowered their target price on shares of Lyft from $70.00 to $55.00 in a report on Friday, February 4th. Finally, Morgan Stanley lowered their target price on shares of Lyft from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 9th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Lyft has an average rating of “Buy” and an average target price of $63.53.
Shares of Lyft stock opened at $38.94 on Tuesday. Lyft, Inc. has a fifty-two week low of $33.94 and a fifty-two week high of $68.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $13.27 billion, a P/E ratio of -12.85 and a beta of 1.89. The company’s 50 day moving average price is $40.73 and its two-hundred day moving average price is $45.80.
Lyft (NASDAQ:LYFT – Get Rating) last issued its quarterly earnings results on Tuesday, February 8th. The ride-sharing company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $969.90 million for the quarter, compared to analyst estimates of $940.85 million. Lyft had a negative net margin of 31.46% and a negative return on equity of 57.68%. Lyft’s revenue was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.01) earnings per share. On average, analysts expect that Lyft, Inc. will post -1.58 earnings per share for the current year.
Lyft Profile (Get Rating)
Lyft, Inc engages in the provision and management of online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.
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