Senvest Management LLC Buys Shares of 62,036 Lyft, Inc. $LYFT

Senvest Management LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 62,036 shares of the ride-sharing company’s stock, valued at approximately $978,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in Lyft by 44.7% in the 1st quarter. Cerity Partners LLC now owns 179,287 shares of the ride-sharing company’s stock valued at $2,128,000 after buying an additional 55,399 shares during the period. Signaturefd LLC boosted its position in shares of Lyft by 89.5% during the 1st quarter. Signaturefd LLC now owns 4,021 shares of the ride-sharing company’s stock worth $48,000 after purchasing an additional 1,899 shares during the period. Wealthfront Advisers LLC acquired a new stake in Lyft in the 1st quarter valued at approximately $146,000. Victory Capital Management Inc. raised its position in Lyft by 99.5% in the first quarter. Victory Capital Management Inc. now owns 350,043 shares of the ride-sharing company’s stock valued at $4,155,000 after purchasing an additional 174,555 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Lyft by 13.6% during the first quarter. Allianz Asset Management GmbH now owns 45,900 shares of the ride-sharing company’s stock worth $545,000 after buying an additional 5,500 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the transaction, the chief financial officer directly owned 525,759 shares in the company, valued at approximately $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John David Risher purchased 5,926 shares of Lyft stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 74,427 shares of company stock worth $1,252,686. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their target price on Lyft from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Oppenheimer set a $26.00 target price on shares of Lyft and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Barclays boosted their price target on shares of Lyft from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Guggenheim upgraded Lyft to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Benchmark restated a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.72.

Lyft Trading Down 6.7%

NASDAQ:LYFT opened at $21.58 on Tuesday. The stock has a 50-day simple moving average of $21.08 and a 200-day simple moving average of $17.37. The stock has a market cap of $8.62 billion, a P/E ratio of 56.79, a P/E/G ratio of 2.30 and a beta of 2.36. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. As a group, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft Company 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.