Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by PSI Advisors LLC

PSI Advisors LLC boosted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 36.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,600 shares of the ride-sharing company’s stock after buying an additional 1,500 shares during the period. PSI Advisors LLC’s holdings in Lyft were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Spurstone Advisory Services LLC acquired a new position in shares of Lyft in the 4th quarter valued at approximately $25,000. Plato Investment Management Ltd bought a new position in Lyft during the 4th quarter worth $35,000. GAMMA Investing LLC increased its holdings in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after acquiring an additional 1,237 shares during the period. Harbour Investments Inc. increased its stake in shares of Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Lyft in the first quarter worth $35,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of Lyft stock opened at $14.69 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 97.93, a price-to-earnings-growth ratio of 2.84 and a beta of 2.22. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The company has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $13.56.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher purchased 6,538 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer now owns 11,791,340 shares of the company’s stock, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the transaction, the insider now directly owns 959,697 shares of the company’s stock, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LYFT shares. UBS Group raised their target price on Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Wells Fargo & Company lowered their target price on Lyft from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Loop Capital cut their price target on Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Tigress Financial reissued a “buy” rating and set a $28.00 target price (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Finally, Susquehanna raised their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.40.

About Lyft

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.