International Assets Investment Management LLC Takes Position in Lyft, Inc. (NASDAQ:LYFT)

International Assets Investment Management LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 43,036 shares of the ride-sharing company’s stock, valued at approximately $645,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. grew its stake in Lyft by 8.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 24,819 shares of the ride-sharing company’s stock worth $262,000 after buying an additional 1,860 shares during the last quarter. CWM LLC grew its stake in Lyft by 72.6% during the 3rd quarter. CWM LLC now owns 7,097 shares of the ride-sharing company’s stock worth $75,000 after buying an additional 2,985 shares during the last quarter. AE Wealth Management LLC purchased a new position in Lyft during the 3rd quarter worth $526,000. SG Americas Securities LLC grew its stake in Lyft by 11.3% during the 3rd quarter. SG Americas Securities LLC now owns 55,465 shares of the ride-sharing company’s stock worth $585,000 after buying an additional 5,653 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Lyft during the 3rd quarter worth $397,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYFT has been the topic of several research analyst reports. Nomura downgraded Lyft from a “neutral” rating to a “reduce” rating and boosted their target price for the stock from $11.70 to $13.00 in a research note on Friday, December 29th. Citigroup boosted their price target on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Moffett Nathanson upgraded Lyft from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 14th. Royal Bank of Canada upgraded Lyft from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $17.00 to $23.00 in a research note on Monday, March 4th. Finally, Tigress Financial boosted their price target on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.60.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The disclosure for this sale can be found here. Insiders sold 270,526 shares of company stock valued at $5,195,771 over the last quarter. 3.16% of the stock is currently owned by insiders.

Lyft Stock Performance

NASDAQ LYFT opened at $16.34 on Thursday. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of -18.36 and a beta of 1.98. Lyft, Inc. has a twelve month low of $7.85 and a twelve month high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average of $17.83 and a 200 day moving average of $14.18.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sell-side analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

About Lyft

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.