Byrne Asset Management LLC Has $681,000 Holdings in Lyft, Inc. $LYFT

Byrne Asset Management LLC raised its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 9.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 43,206 shares of the ride-sharing company’s stock after purchasing an additional 3,565 shares during the quarter. Byrne Asset Management LLC’s holdings in Lyft were worth $681,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Spurstone Advisory Services LLC acquired a new stake in Lyft in the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lyft during the 2nd quarter worth $32,000. GAMMA Investing LLC raised its stake in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Lyft during the 1st quarter worth $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Transactions at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the sale, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,821 shares of company stock valued at $960,566. Insiders own 3.07% of the company’s stock.

Lyft Price Performance

LYFT opened at $20.44 on Tuesday. The stock has a fifty day simple moving average of $15.61 and a two-hundred day simple moving average of $14.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 85.17, a price-to-earnings-growth ratio of 2.91 and a beta of 2.33. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $20.50.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $0.24 EPS. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LYFT shares. Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Thursday, August 7th. Tigress Financial restated a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Morgan Stanley upped their price objective on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Sanford C. Bernstein upped their target price on Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company boosted their price objective on Lyft from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Nine research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $17.07.

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.