Trivium Point Advisory LLC Sells 2,607 Shares of Lyft, Inc. (NASDAQ:LYFT)

Trivium Point Advisory LLC reduced its position in Lyft, Inc. (NASDAQ:LYFT) by 20.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,285 shares of the ride-sharing company’s stock after selling 2,607 shares during the quarter. Trivium Point Advisory LLC’s holdings in Lyft were worth $122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Neuberger Berman Group LLC raised its holdings in shares of Lyft by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock valued at $290,000 after acquiring an additional 868 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after acquiring an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Lyft by 11.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after purchasing an additional 914 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock worth $207,000 after purchasing an additional 970 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Lyft by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company’s stock worth $1,081,000 after purchasing an additional 1,132 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Trading Up 8.2%

Shares of NASDAQ:LYFT opened at $15.82 on Friday. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. The company has a market capitalization of $6.61 billion, a PE ratio of 65.92, a PEG ratio of 2.39 and a beta of 2.26. The business has a 50 day moving average of $14.94 and a two-hundred day moving average of $13.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. JPMorgan Chase & Co. boosted their target price on shares of Lyft from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Sanford C. Bernstein boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Lyft from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.70.

Insider Buying and Selling at Lyft

In related news, CEO John David Risher purchased 6,538 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the acquisition, the chief executive officer owned 11,791,340 shares of the company’s stock, valued at $180,289,588.60. The trade was a 0.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jill Beggs sold 1,572 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the transaction, the director directly owned 20,467 shares of the company’s stock, valued at $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by corporate insiders.

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.