Staley Capital Advisers Inc. lessened its stake in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 39.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,048 shares of the ride-sharing company’s stock after selling 58,925 shares during the quarter. Staley Capital Advisers Inc.’s holdings in Lyft were worth $1,725,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of LYFT. Amalgamated Bank grew its stake in shares of Lyft by 2.5% in the 3rd quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock valued at $477,000 after buying an additional 534 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after buying an additional 639 shares in the last quarter. CI Investments Inc. grew its stake 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 valued at $51,000 after buying an additional 653 shares in the last quarter. Allegiance Financial Group Advisory Services LLC grew its stake in shares of Lyft by 4.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after buying an additional 756 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Lyft by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock valued at $3,684,000 after buying an additional 771 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.
Insider Buying and Selling at Lyft
In other Lyft news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $354,915.00. Following the completion of the sale, the insider directly owned 916,022 shares in the company, valued at $13,740,330. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,284 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the sale, the chief accounting officer owned 300,570 shares of the company’s stock, valued at $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 54,699 shares of company stock worth $771,756 over the last ninety days. Company insiders own 0.92% of the company’s stock.
Lyft Stock Down 0.6%
Lyft (NASDAQ:LYFT – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. Equities analysts expect that Lyft, Inc. will post 0.66 earnings per share for the current year.
Lyft announced that its board has authorized a stock repurchase plan on Tuesday, February 10th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on LYFT shares. UBS Group reissued a “neutral” rating on shares of Lyft in a research note on Monday, February 2nd. Morgan Stanley set a $17.00 price objective on shares of Lyft in a report on Wednesday, February 11th. Zacks Research cut shares of Lyft from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Cantor Fitzgerald decreased their price objective on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. Finally, Roth Mkm reiterated a “buy” rating and issued a $23.00 price objective on shares of Lyft in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.28.
View Our Latest Analysis on Lyft
Lyft Company 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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