True Wealth Design LLC Increases Stake in Lyft, Inc. $LYFT

True Wealth Design LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 91.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,540 shares of the ride-sharing company’s stock after purchasing an additional 2,644 shares during the quarter. True Wealth Design LLC’s holdings in Lyft were worth $87,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Neuberger Berman Group LLC boosted its holdings in Lyft by 3.7% in the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after buying an additional 868 shares during the period. Amalgamated Bank boosted its holdings in shares of Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after acquiring an additional 892 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Lyft by 39.4% in the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock worth $65,000 after acquiring an additional 1,160 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 1,203 shares in the last quarter. Finally, 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 valued at $33,000 after purchasing an additional 1,237 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Lyft stock opened at $22.04 on Friday. The firm’s fifty day moving average price is $20.29 and its 200-day moving average price is $16.82. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.70 and a current ratio of 0.72. The stock has a market cap of $8.96 billion, a P/E ratio of 58.00, a price-to-earnings-growth ratio of 3.72 and a beta of 2.36. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $23.50.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Cantor Fitzgerald raised their target price on Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets raised their price objective on shares of Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday. TD Cowen upped their target price on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. The Goldman Sachs Group increased their target price on shares of Lyft from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zephirin Group upped their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $22.42.

Insider Activity at Lyft

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

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.