PFS Investments Inc. Has $2.40 Million Position in Lyft, Inc. (NASDAQ:LYFT)

PFS Investments Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFTGet Rating) by 19.7% in the fourth quarter, Holdings Channel reports. The firm owned 56,219 shares of the ride-sharing company’s stock after purchasing an additional 9,233 shares during the period. PFS Investments Inc.’s holdings in Lyft were worth $2,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. bought a new position in Lyft during the first quarter worth about $39,000. Ensign Peak Advisors Inc acquired a new stake in Lyft during the 3rd quarter worth approximately $49,000. Concord Wealth Partners raised its holdings in Lyft by 64.2% during the 4th quarter. Concord Wealth Partners now owns 962 shares of the ride-sharing company’s stock worth $41,000 after buying an additional 376 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Lyft by 206.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock worth $46,000 after buying an additional 719 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Lyft during the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

In related news, insider Kristin Sverchek sold 3,938 shares of Lyft stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $40.00, for a total transaction of $157,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.77% of the company’s stock.

A number of equities analysts have issued reports on LYFT shares. Royal Bank of Canada lowered their target price on Lyft from $50.00 to $42.00 in a report on Wednesday, May 4th. Truist Financial reduced their price target on Lyft from $58.00 to $50.00 in a research report on Wednesday, May 4th. MKM Partners reduced their price target on Lyft from $49.00 to $32.00 in a research report on Wednesday, May 4th. Credit Suisse Group upped their price target on Lyft from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, February 7th. Finally, Susquehanna Bancshares reduced their price target on Lyft from $80.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, February 9th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $49.62.

LYFT stock opened at $19.07 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $6.65 billion, a PE ratio of -8.33 and a beta of 1.79. Lyft, Inc. has a 1-year low of $17.24 and a 1-year high of $63.07. The business’s 50 day simple moving average is $31.57 and its 200 day simple moving average is $38.23.

Lyft (NASDAQ:LYFTGet Rating) last announced its earnings results on Tuesday, May 3rd. The ride-sharing company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.14. The business had revenue of $875.60 million during the quarter, compared to the consensus estimate of $845.91 million. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. Lyft’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.86) EPS. As a group, sell-side analysts predict that Lyft, Inc. will post -1.87 EPS for the current fiscal year.

Lyft Company Profile (Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

Recommended Stories

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFTGet Rating).

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.