Carret Asset Management LLC Increases Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Carret Asset Management LLC lifted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 13.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,425 shares of the ride-sharing company’s stock after buying an additional 1,625 shares during the period. Carret Asset Management LLC’s holdings in Lyft were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. grew its stake in shares of Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after buying an additional 993 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after acquiring an additional 1,160 shares in the last quarter. QRG Capital Management Inc. increased its stake in Lyft by 6.1% during the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after purchasing an additional 1,437 shares during the period. Finally, CWM LLC lifted its position in shares of Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after purchasing an additional 1,457 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Down 2.7 %

NASDAQ LYFT opened at $13.41 on Monday. The firm’s fifty day moving average is $12.37 and its two-hundred day moving average is $13.70. Lyft, Inc. has a one year low of $8.85 and a one year high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $5.50 billion, a PE ratio of -83.81 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. Analysts expect that Lyft, Inc. will post -0.09 earnings per share for the current year.

Insider Transactions at Lyft

In related news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 10,323 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 over the last 90 days. 3.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYFT. Raymond James began coverage on shares of Lyft in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. BMO Capital Markets cut their price objective on Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $13.00 in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $15.59.

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.