Lecap Asset Management Ltd. Sells 5,660 Shares of Lyft, Inc. (NASDAQ:LYFT)

Lecap Asset Management Ltd. reduced its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,329 shares of the ride-sharing company’s stock after selling 5,660 shares during the period. Lecap Asset Management Ltd.’s holdings in Lyft were worth $851,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its position in shares of Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. a16z Perennial Management L.P. bought a new stake in shares of Lyft during the 4th quarter valued at about $34,000. Kapitalo Investimentos Ltda purchased a new position in Lyft in the 4th quarter worth approximately $34,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Lyft during the 4th quarter worth $40,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Lyft in the first quarter valued at $41,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 3.5 %

Shares of LYFT stock traded up $0.40 during mid-day trading on Wednesday, hitting $11.69. The company’s stock had a trading volume of 13,340,208 shares, compared to its average volume of 15,842,496. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -24.87 and a beta of 2.06. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The business has a 50-day moving average price of $12.41 and a 200 day moving average price of $15.27.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. Research analysts predict that Lyft, Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LYFT shares. Canaccord Genuity Group cut their price objective on Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 8th. TD Cowen reduced their price target on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Melius initiated coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective for the company. Morgan Stanley lifted their target price on shares of Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, June 7th. Finally, DA Davidson upped their price target on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.87.

Insider Buying and Selling at Lyft

In other Lyft news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.81, for a total value of $41,430.00. Following the completion of the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Kristin Sverchek sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the sale, the president now owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The disclosure for this sale can be found here. Insiders sold 25,410 shares of company stock worth $387,668 in the last quarter. 3.07% of the stock is owned by corporate insiders.

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.