US Bancorp DE Decreases Position in Lyft, Inc. $LYFT

US Bancorp DE cut its position in Lyft, Inc. (NASDAQ:LYFT) by 19.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,915 shares of the ride-sharing company’s stock after selling 9,870 shares during the period. US Bancorp DE’s holdings in Lyft were worth $629,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Lyft by 81.4% during 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. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lyft by 70.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 146,038 shares of the ride-sharing company’s stock valued at $1,733,000 after purchasing an additional 60,438 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Lyft by 10.4% during the first quarter. QRG Capital Management Inc. now owns 27,047 shares of the ride-sharing company’s stock valued at $321,000 after purchasing an additional 2,554 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Lyft by 11.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock valued at $107,000 after purchasing an additional 914 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Lyft during the first quarter valued at approximately $282,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LYFT shares. Morgan Stanley boosted their price objective on shares of Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lyft from $16.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Citigroup restated a “hold” rating and set a $14.00 target price (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. Wall Street Zen lowered shares of Lyft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Guggenheim upgraded shares of Lyft to a “strong-buy” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.12.

Insider Activity at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the purchase, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 74,427 shares of company stock valued at $1,252,686 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

LYFT stock opened at $19.53 on Monday. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50. The company’s fifty day moving average price is $18.85 and its 200-day moving average price is $15.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $7.94 billion, a PE ratio of 81.38, a price-to-earnings-growth ratio of 3.52 and a beta of 2.40.

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

About Lyft

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.