Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 19.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 49,785 shares of the ride-sharing company’s stock after acquiring an additional 8,246 shares during the period. US Bancorp DE’s holdings in Lyft were worth $591,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in shares of Lyft by 53.9% during the fourth quarter. Alliancebernstein L.P. now owns 120,562 shares of the ride-sharing company’s stock valued at $1,555,000 after acquiring an additional 42,218 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Lyft by 49.4% in the 4th quarter. Cerity Partners LLC now owns 123,888 shares of the ride-sharing company’s stock worth $1,597,000 after acquiring an additional 40,990 shares during the last quarter. Invesco Ltd. boosted its position in shares of Lyft by 12.0% during the 4th quarter. Invesco Ltd. now owns 583,992 shares of the ride-sharing company’s stock worth $7,533,000 after purchasing an additional 62,478 shares during the period. Advisory Services Network LLC acquired a new stake in Lyft in the 4th quarter valued at approximately $243,000. Finally, Treasurer of the State of North Carolina increased its holdings in Lyft by 2.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 161,565 shares of the ride-sharing company’s stock valued at $2,084,000 after purchasing an additional 3,830 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Up 0.4%

NASDAQ:LYFT opened at $13.46 on Tuesday. 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 1 year low of $9.53 and a 1 year high of $19.07. The stock has a market cap of $5.63 billion, a P/E ratio of 56.09, a P/E/G ratio of 2.93 and a beta of 2.26. The stock has a 50-day simple moving average of $14.99 and a 200-day simple moving average of $13.75.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on LYFT shares. Oppenheimer decreased their price target on Lyft from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Friday, May 9th. Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a report on Thursday, August 7th. The Goldman Sachs Group raised Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Friday, May 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price target (up from $15.00) on shares of Lyft in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.70.

Insider Activity at Lyft

In other news, CEO John David Risher bought 6,538 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average cost of $15.29 per share, with a total value of $99,966.02. Following the transaction, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jill Beggs sold 1,572 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director owned 20,467 shares of the company’s stock, valued at approximately $335,863.47. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is owned by corporate insiders.

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.