RiverPark Advisors LLC Has $257,000 Stock Position in Lyft, Inc. $LYFT

RiverPark Advisors LLC reduced its stake in Lyft, Inc. (NASDAQ:LYFT) by 35.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,331 shares of the ride-sharing company’s stock after selling 9,104 shares during the period. RiverPark Advisors LLC’s holdings in Lyft were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in shares of Lyft by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock valued at $115,000 after acquiring an additional 2,871 shares during the period. Maxi Investments CY Ltd grew its holdings in Lyft by 320.4% during the first quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock valued at $11,228,000 after purchasing an additional 720,933 shares during the period. Joule Financial LLC bought a new stake in Lyft in the second quarter valued at approximately $760,000. Polar Asset Management Partners Inc. acquired a new stake in Lyft in the first quarter worth $2,191,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Lyft during the first quarter worth $607,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LYFT. UBS Group raised their price objective on Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised their price target on Lyft from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Bank of America lifted their price objective on Lyft from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, September 18th. Wedbush increased their target price on Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, DA Davidson set a $22.00 target price on shares of Lyft in a report on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.85.

Insider Activity

In related news, CEO John David Risher bought 5,926 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. The trade was a 1.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

NASDAQ LYFT opened at $19.63 on Wednesday. The firm’s 50 day moving average is $21.22 and its 200-day moving average is $17.66. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $7.84 billion, a PE ratio of 51.66, a price-to-earnings-growth ratio of 1.98 and a beta of 2.36. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal 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.