Lyft, Inc. $LYFT Stock Position Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 26.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,849,205 shares of the ride-sharing company’s stock after buying an additional 5,178,118 shares during the period. Ameriprise Financial Inc. owned approximately 5.94% of Lyft worth $294,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft during the fourth quarter worth $25,000. GAMMA Investing LLC increased its position in Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Lyft in the 1st quarter worth about $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Lyft in the 1st quarter worth about $35,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 1,769 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lyft news, CEO John David Risher bought 6,538 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the sale, the insider owned 850,388 shares of the company’s stock, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,928 shares of company stock worth $703,839 in the last 90 days. 3.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LYFT. Citigroup reaffirmed a “hold” rating and issued a $14.00 target price (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price target on shares of Lyft in a research note on Thursday, June 5th. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price target (up previously from $15.00) on shares of Lyft in a research note on Thursday, August 7th. TD Cowen upgraded Lyft from a “hold” rating to a “buy” rating and upped their price target for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Finally, Oppenheimer decreased their price target on Lyft from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.83.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $17.01 on Friday. The business has a 50 day moving average price of $15.00 and a 200 day moving average price of $13.85. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $19.07. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 70.88, a PEG ratio of 2.58 and a beta of 2.26. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $0.24 EPS. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts predict 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.