Pallas Capital Advisors LLC Buys 32,946 Shares of Lyft, Inc. (NASDAQ:LYFT)

Pallas Capital Advisors LLC increased its stake in Lyft, Inc. (NASDAQ:LYFT) by 105.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,127 shares of the ride-sharing company’s stock after acquiring an additional 32,946 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lyft were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Washington Capital Management Inc. increased its stake in shares of Lyft by 23.4% in the 1st quarter. Washington Capital Management Inc. now owns 39,000 shares of the ride-sharing company’s stock valued at $463,000 after acquiring an additional 7,400 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Lyft in the 1st quarter valued at $175,000. UMB Bank n.a. bought a new stake in shares of Lyft in the 1st quarter valued at $292,000. Rhumbline Advisers increased its stake in shares of Lyft by 7.3% in the 1st quarter. Rhumbline Advisers now owns 417,709 shares of the ride-sharing company’s stock valued at $4,958,000 after acquiring an additional 28,357 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Lyft by 2,053.7% in the 1st quarter. GAMMA Investing LLC now owns 32,714 shares of the ride-sharing company’s stock valued at $388,000 after acquiring an additional 31,195 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now directly owns 959,697 shares of the company’s stock, valued at $11,948,227.65. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher acquired 6,538 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the acquisition, the chief executive officer now owns 11,791,340 shares of the company’s stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on LYFT shares. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Lyft in a research note on Friday, May 9th. Roth Capital restated a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Evercore ISI decreased their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company decreased their price target on shares of Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Finally, Cantor Fitzgerald decreased their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.40.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $15.56 on Thursday. The company’s 50-day moving average is $13.73 and its 200 day moving average is $13.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company has a market capitalization of $6.50 billion, a P/E ratio of 259.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.22. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. Lyft’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft Company Profile

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.