Focus Partners Advisor Solutions LLC Raises Position in Lyft, Inc. $LYFT

Focus Partners Advisor Solutions LLC boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 259.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 101,482 shares of the ride-sharing company’s stock after buying an additional 73,211 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Lyft were worth $1,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. Rakuten Group Inc. purchased a new stake in Lyft in the first quarter worth about $130,434,000. Ameriprise Financial Inc. lifted its holdings in Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after buying an additional 5,178,118 shares during the period. AQR Capital Management LLC grew its position in shares of Lyft by 103.3% in the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Lyft by 83,744.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company’s stock worth $37,331,000 after buying an additional 3,141,240 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Lyft in the 1st quarter worth about $31,143,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lyft

In other Lyft news, CEO John David Risher acquired 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the purchase, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer owned 540,759 shares in the company, 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. In the last 90 days, insiders have sold 74,427 shares of company stock worth $1,252,686. Company insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of Lyft stock opened at $20.47 on Monday. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 85.30, a PEG ratio of 3.68 and a beta of 2.40. The firm’s 50-day moving average is $19.44 and its 200 day moving average is $16.20. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on LYFT shares. UBS Group upped their target price on shares of Lyft from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $22.00 target price on shares of Lyft in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Lyft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Oppenheimer upped their target price on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Finally, TD Cowen upped their target price on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.25.

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.