Insight Wealth Strategies LLC Acquires 414,655 Shares of Lyft, Inc. $LYFT

Insight Wealth Strategies LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the third quarter, HoldingsChannel reports. The fund acquired 414,655 shares of the ride-sharing company’s stock, valued at approximately $6,224,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYFT. Wedmont Private Capital grew its position in Lyft by 8.2% during the second quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company’s stock valued at $201,000 after acquiring an additional 977 shares during the period. Horizon Investment Services LLC increased its position in Lyft by 6.1% during the 4th quarter. Horizon Investment Services LLC now owns 17,348 shares of the ride-sharing company’s stock worth $336,000 after purchasing an additional 994 shares in the last quarter. Polymer Capital Management HK LTD increased its position in Lyft by 3.8% during the 4th quarter. Polymer Capital Management HK LTD now owns 32,158 shares of the ride-sharing company’s stock worth $623,000 after purchasing an additional 1,185 shares in the last quarter. Praxis Investment Management Inc. raised its holdings in Lyft by 9.5% in the first quarter. Praxis Investment Management Inc. now owns 14,538 shares of the ride-sharing company’s stock valued at $193,000 after buying an additional 1,258 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Lyft by 8.6% in the second quarter. QRG Capital Management Inc. now owns 16,658 shares of the ride-sharing company’s stock valued at $243,000 after buying an additional 1,314 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LYFT. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their target price on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Tigress Financial restated a “buy” rating and set a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. Scotiabank started coverage on shares of Lyft in a research report on Wednesday, September 9th. They set a “sector perform” rating and a $17.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a research report on Monday, August 3rd. Eleven research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus target price of $19.03.

Lyft Stock Up 0.5%

Shares of NASDAQ LYFT traded up $0.09 during trading on Friday, reaching $16.21. 3,769,138 shares of the stock were exchanged, compared to its average volume of 13,968,847. The business’s 50-day moving average price is $16.28 and its 200 day moving average price is $14.95. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 2.36, a price-to-earnings-growth ratio of 0.99 and a beta of 1.95.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Lyft’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that Lyft, Inc. will post 0.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $14.64, for a total transaction of $219,600.00. Following the completion of the sale, the chief financial officer directly owned 837,303 shares in the company, valued at $12,258,115.92. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of Lyft stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.33, for a total value of $79,943.29. Following the sale, the director directly owned 119,124 shares in the company, valued at approximately $2,064,418.92. The trade was a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 112,020 shares of company stock worth $1,850,559 over the last quarter. Company insiders own 0.92% of the company’s stock.

Lyft Profile

Lyft, Inc is a technology company that operates a transportation platform in the United States and Canada. Through its mobile application and website, Lyft connects riders with drivers who provide on-demand and scheduled transportation services, including rides in private vehicles and taxis.

The company also offers a range of related services, such as bikes and scooters in select markets, airport transportation, business travel programs and tools for organizations managing transportation.