Lyft, Inc. $LYFT Stake Lowered by Union Square Park Capital Management LLC

Union Square Park Capital Management LLC lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 39.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the ride-sharing company’s stock after selling 195,000 shares during the period. Lyft makes up approximately 2.3% of Union Square Park Capital Management LLC’s portfolio, making the stock its 8th largest position. Union Square Park Capital Management LLC owned approximately 0.08% of Lyft worth $3,990,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LYFT. Empowered Funds LLC boosted its stake in shares of Lyft by 13.7% in the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after buying an additional 2,921 shares during the last quarter. Focus Partners Wealth raised its holdings in Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after acquiring an additional 15,621 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Lyft in the second quarter worth $470,000. Invesco Ltd. boosted its stake in Lyft by 87.5% during the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after buying an additional 497,118 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Lyft by 12.6% in the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock valued at $11,177,000 after purchasing an additional 79,634 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the sale, the insider directly owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, the director owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,535 shares of company stock valued at $637,456. Corporate insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Truist Financial increased their price target on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Guggenheim reissued a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Oppenheimer assumed coverage on Lyft in a research report on Wednesday, June 17th. They set an “outperform” rating on the stock. Citigroup started coverage on Lyft in a research note on Wednesday, June 17th. They issued a “buy” rating for the company. Finally, Sanford C. Bernstein began coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.40.

Lyft Price Performance

LYFT stock opened at $14.20 on Friday. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $14.46 and a 200 day moving average price of $14.77. The stock has a market cap of $5.39 billion, a PE ratio of 2.07, a P/E/G ratio of 0.84 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. Equities research analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.