Staley Capital Advisers Inc. trimmed its position in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 74.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 23,014 shares of the ride-sharing company’s stock after selling 66,034 shares during the period. Staley Capital Advisers Inc.’s holdings in Lyft were worth $306,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Lyft in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft during the 4th quarter valued at $40,000. Huntington National Bank raised its stake in shares of Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 1,374 shares during the period. CI Investments Inc. boosted its holdings in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 653 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Lyft by 763.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,073 shares of the ride-sharing company’s stock valued at $59,000 after buying an additional 2,717 shares during the period. Institutional investors own 83.07% of the company’s stock.
Insider Activity
In other Lyft news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares of the company’s stock, valued at $414,065.92. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the transaction, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. The trade was a 1.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 69,196 shares of company stock worth $992,371. Insiders own 0.92% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on LYFT
Lyft Price Performance
Shares of NASDAQ LYFT opened at $15.17 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The stock has a market cap of $5.76 billion, a PE ratio of 2.21, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80. The stock has a fifty day moving average of $14.12 and a 200-day moving average of $15.09.
Lyft (NASDAQ:LYFT – Get Free Report) last issued its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.
Lyft Profile
Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.
Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.
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