Jackson Thornton Wealth Management LLC Takes $212,000 Position in Lyft, Inc. $LYFT

Jackson Thornton Wealth Management LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,871 shares of the ride-sharing company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LYFT. Rakuten Group Inc. purchased a new stake in shares of Lyft in the first quarter valued at $130,434,000. Ameriprise Financial Inc. raised its stake in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after acquiring an additional 5,178,118 shares during the period. AQR Capital Management LLC raised its stake in shares of Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after acquiring an additional 4,980,876 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Lyft by 83,744.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company’s stock valued at $37,331,000 after acquiring an additional 3,141,240 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Lyft in the first quarter valued at $31,143,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,427 shares of company stock worth $1,252,686 in the last three months. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LYFT shares. Mizuho started coverage on shares of Lyft in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $24.00 price target on the stock. Susquehanna reduced their price target on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Lyft from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Sanford C. Bernstein raised their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Finally, TD Cowen raised their price target on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lyft currently has a consensus rating of “Hold” and a consensus price target of $19.12.

Lyft Stock Up 3.5%

Shares of Lyft stock opened at $20.21 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50. The firm’s 50-day moving average is $18.98 and its two-hundred day moving average is $15.92. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 84.21, a PEG ratio of 3.52 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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.