Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC trimmed its stake in Lyft, Inc. (NASDAQ:LYFT) by 38.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,398 shares of the ride-sharing company’s stock after selling 10,286 shares during the period. Belpointe Asset Management LLC’s holdings in Lyft were worth $212,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its position in Lyft by 3.8% in the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after buying an additional 903 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after purchasing an additional 969 shares in the last quarter. US Bancorp DE lifted its position in shares of Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after purchasing an additional 1,045 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Lyft by 42.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Manchester Capital Management LLC raised its stake in Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after buying an additional 1,080 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on LYFT shares. Morgan Stanley dropped their price objective on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Thursday. Bank of America downgraded shares of Lyft from a “buy” rating to an “underperform” rating and set a $10.50 price objective for the company. in a research report on Thursday, April 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $15.00 target price on shares of Lyft in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $16.45.

Lyft Trading Up 3.0 %

Shares of LYFT opened at $11.16 on Friday. The firm’s 50-day moving average is $12.08 and its two-hundred day moving average is $13.66. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.66 billion, a P/E ratio of 186.00, a PEG ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 in the last 90 days. 3.07% of the stock is currently owned by insiders.

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.