Lavaca Capital LLC Makes New $408,000 Investment in LYFT Inc (NASDAQ:LYFT)

Lavaca Capital LLC purchased a new position in shares of LYFT Inc (NASDAQ:LYFT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the ride-sharing company’s stock, valued at approximately $408,000.

Other large investors have also recently made changes to their positions in the company. Coastal Investment Advisors Inc. boosted its holdings in LYFT by 451.2% in the third quarter. Coastal Investment Advisors Inc. now owns 700 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 573 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in LYFT in the second quarter valued at about $34,000. Flagship Harbor Advisors LLC purchased a new position in LYFT in the second quarter valued at about $37,000. RPG Investment Advisory LLC boosted its holdings in LYFT by 500.0% in the second quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in LYFT in the second quarter valued at about $38,000. Institutional investors own 34.64% of the company’s stock.

A number of research analysts recently commented on LYFT shares. SunTrust Banks increased their price target on LYFT to $75.00 and gave the company a “positive” rating in a report on Thursday, August 8th. KeyCorp reissued a “hold” rating on shares of LYFT in a report on Tuesday, October 15th. Goldman Sachs Group raised LYFT from a “neutral” rating to a “buy” rating and reduced their price target for the company from $71.00 to $58.00 in a report on Thursday, October 31st. Daiwa Capital Markets set a $70.00 price target on LYFT and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Cowen increased their price target on LYFT from $78.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.11.

Shares of LYFT stock traded down $0.06 on Friday, reaching $43.23. 4,927,100 shares of the company were exchanged, compared to its average volume of 6,692,414. The company has a quick ratio of 1.73, a current ratio of 1.49 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $41.78 and its two-hundred day moving average is $53.50. LYFT Inc has a 1-year low of $37.07 and a 1-year high of $88.60.

LYFT (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, October 30th. The ride-sharing company reported ($1.57) earnings per share for the quarter, topping the consensus estimate of ($1.66) by $0.09. The company had revenue of $955.60 million for the quarter, compared to the consensus estimate of $915.15 million. LYFT’s revenue was up 63.4% on a year-over-year basis. Equities research analysts forecast that LYFT Inc will post -10.59 earnings per share for the current year.

In other news, EVP Ran I. Makavy sold 70,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $52.11, for a total transaction of $3,647,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kristin Sverchek sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $47.97, for a total value of $287,820.00. Following the sale, the general counsel now directly owns 206,969 shares of the company’s stock, valued at $9,928,302.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,000 shares of company stock valued at $8,364,920.

LYFT Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

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