Summit Trail Advisors LLC Increases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Summit Trail Advisors LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,524 shares of the ride-sharing company’s stock after purchasing an additional 3,275 shares during the period. Summit Trail Advisors LLC’s holdings in Lyft were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Lyft by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock worth $464,434,000 after acquiring an additional 984,907 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after purchasing an additional 1,224,056 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after purchasing an additional 6,365,727 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Lyft by 156.9% in the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock valued at $103,524,000 after buying an additional 4,901,358 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after buying an additional 2,240,478 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of Lyft in a report on Wednesday, March 26th. Morgan Stanley dropped their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group raised Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 9th. Barclays raised their price target on Lyft from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company reduced their price objective on Lyft from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and a consensus target price of $16.64.

Insider Activity

In other Lyft news, CEO John David Risher purchased 6,538 shares of Lyft stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price 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 approximately $180,289,588.60. This trade represents a 0.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the transaction, the director owned 879,498 shares of the company’s stock, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,732 shares of company stock valued at $347,159. Corporate insiders own 3.07% of the company’s stock.

Lyft Trading Down 3.0%

Shares of LYFT opened at $15.71 on Thursday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07. The stock’s 50-day moving average is $15.05 and its two-hundred day moving average is $13.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $6.57 billion, a PE ratio of 104.73, a P/E/G ratio of 3.18 and a beta of 2.20.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 EPS. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft 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.