RiverPark Advisors LLC Sells 9,104 Shares of Lyft, Inc. $LYFT

RiverPark Advisors LLC decreased its holdings in Lyft, Inc. (NASDAQ:LYFT) by 35.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,331 shares of the ride-sharing company’s stock after selling 9,104 shares during the period. RiverPark Advisors LLC’s holdings in Lyft were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Allianz Asset Management GmbH increased its holdings in shares of Lyft by 13.6% during the 1st quarter. Allianz Asset Management GmbH now owns 45,900 shares of the ride-sharing company’s stock worth $545,000 after acquiring an additional 5,500 shares during the last quarter. Cetera Investment Advisers boosted its position in Lyft by 59.5% during the first quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company’s stock worth $338,000 after purchasing an additional 10,619 shares during the period. HB Wealth Management LLC bought a new position in Lyft during the first quarter worth $147,000. Federated Hermes Inc. increased its holdings in shares of Lyft by 438.7% in the first quarter. Federated Hermes Inc. now owns 1,555,883 shares of the ride-sharing company’s stock valued at $18,468,000 after purchasing an additional 1,267,056 shares during the last quarter. Finally, RD Finance Ltd bought a new position in shares of Lyft in the first quarter valued at about $393,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYFT has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Lyft from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Oppenheimer set a $26.00 target price on Lyft and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group lifted their price target on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, September 18th. Finally, Morgan Stanley increased their target price 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. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and an average price target of $22.85.

Insider Buying and Selling at Lyft

In related news, CEO John David Risher purchased 5,926 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the transaction, the insider owned 835,782 shares of the company’s stock, valued at $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Lyft stock opened at $19.63 on Wednesday. The business has a 50 day moving average of $21.22 and a 200-day moving average of $17.66. The company has a market capitalization of $7.84 billion, a P/E ratio of 51.66, a P/E/G ratio of 1.98 and a beta of 2.36. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft Company 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.