23,111 Shares in Lyft, Inc. $LYFT Purchased by waypoint wealth counsel

waypoint wealth counsel purchased a new position in Lyft, Inc. (NASDAQ:LYFT) during the second quarter, Holdings Channel reports. The fund purchased 23,111 shares of the ride-sharing company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYFT. MassMutual Private Wealth & Trust FSB boosted its stake in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lyft in the second quarter valued at about $32,000. GAMMA Investing LLC lifted its stake in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Lyft in the first quarter valued at approximately $35,000. Finally, FNY Investment Advisers LLC purchased a new position in Lyft in the first quarter valued at approximately $35,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares in the company, valued at approximately $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,427 shares of company stock worth $1,252,686 in the last three months. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LYFT has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Lyft from $15.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, September 18th. Susquehanna dropped their price target on Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. BMO Capital Markets upped their price objective on shares of Lyft from $16.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, September 18th. UBS Group upped their price objective on shares of Lyft from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Finally, Benchmark upped their price objective on shares of Lyft from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.02.

Lyft Stock Performance

Shares of LYFT opened at $19.25 on Friday. The stock’s 50-day simple moving average is $18.26 and its 200 day simple moving average is $15.56. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 80.21, a price-to-earnings-growth ratio of 3.01 and a beta of 2.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that Lyft, Inc. will post 0.22 EPS 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.