Jackson Thornton Wealth Management LLC Invests $212,000 in Lyft, Inc. $LYFT

Jackson Thornton Wealth Management LLC purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,871 shares of the ride-sharing company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Neuberger Berman Group LLC boosted its stake in shares of Lyft by 3.7% during the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after acquiring an additional 868 shares during the last quarter. Amalgamated Bank boosted its position in shares of Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after purchasing an additional 892 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Lyft by 11.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after purchasing an additional 914 shares during the period. Parallel Advisors LLC boosted its position in shares of Lyft by 39.4% in the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock worth $65,000 after purchasing an additional 1,160 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were 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 of the company’s stock, valued at $8,241,167.16. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,427 shares of company stock worth $1,252,686 over the last 90 days. 3.07% of the stock is owned by insiders.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $20.21 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a fifty day moving average price of $18.98 and a 200 day moving average price of $15.92. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $23.50. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 84.21, a P/E/G ratio of 3.52 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last issued its 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 return on equity of 14.32% and a net margin of 1.51%.The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $0.24 EPS. Lyft’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upped their price target on shares of Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Citigroup reiterated a “hold” rating and issued a $14.00 price target (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. Morgan Stanley upped their price target on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Guggenheim upgraded shares of Lyft to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, Cowen reiterated a “buy” rating on shares of Lyft in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $19.12.

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.