Independent Financial Group LLC Makes New $534,000 Investment in Lyft, Inc. $LYFT

Independent Financial Group LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,132 shares of the ride-sharing company’s stock, valued at approximately $534,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LYFT. Strs Ohio increased its position in shares of Lyft by 4,527.6% during the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock worth $8,531,000 after purchasing an additional 430,888 shares in the last quarter. West Tower Group LLC boosted its position in Lyft by 207.6% in the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after buying an additional 93,432 shares in the last quarter. OP Asset Management Ltd acquired a new position in Lyft in the first quarter valued at about $992,000. Sivia Capital Partners LLC bought a new stake in Lyft during the second quarter worth about $470,000. Finally, Swedbank AB bought a new stake in Lyft during the fourth quarter worth about $108,472,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Down 4.4%

LYFT stock opened at $14.02 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a market cap of $5.32 billion, a P/E ratio of 2.05, a PEG ratio of 0.87 and a beta of 1.80. The business has a fifty day moving average of $14.44 and a 200-day moving average of $14.77.

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

Analyst Ratings Changes

LYFT has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on shares of Lyft in a research note on Wednesday, June 17th. They issued an “outperform” rating for the company. Sanford C. Bernstein started coverage on Lyft in a research report on Wednesday, June 17th. They set an “underperform” rating on the stock. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a report on Wednesday, June 17th. Truist Financial lifted their price objective on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, DA Davidson reduced their price objective on Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price of $19.40.

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the transaction, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the transaction, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock worth $637,456 over the last quarter. Company insiders own 0.92% of the company’s stock.

Lyft Company Profile

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.