Lyft, Inc. $LYFT Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,521,652 shares of the ride-sharing company’s stock after purchasing an additional 376,661 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.84% of Lyft worth $55,501,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Lyft by 1.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 324,387 shares of the ride-sharing company’s stock valued at $5,112,000 after buying an additional 3,740 shares in the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Lyft by 122.2% in the 2nd quarter. Vinva Investment Management Ltd now owns 25,042 shares of the ride-sharing company’s stock valued at $395,000 after acquiring an additional 13,772 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Lyft by 7.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,045,675 shares of the ride-sharing company’s stock valued at $16,480,000 after acquiring an additional 70,038 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Lyft by 5.6% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 70,325 shares of the ride-sharing company’s stock valued at $1,108,000 after acquiring an additional 3,739 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Lyft by 103.6% during the second quarter. Advisors Asset Management Inc. now owns 22,087 shares of the ride-sharing company’s stock worth $348,000 after purchasing an additional 11,237 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Performance

LYFT stock opened at $21.02 on Friday. The company has a 50-day simple moving average of $21.10 and a 200 day simple moving average of $17.73. The company has a market capitalization of $8.39 billion, a P/E ratio of 55.32, a PEG ratio of 2.09 and a beta of 2.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS 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 the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Sell-side analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark reissued a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. Wells Fargo & Company increased their price objective on shares of Lyft from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their target price on Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Zephirin Group upped their target price on Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 6th. Finally, Susquehanna increased their price target on Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $22.85.

Insider Activity at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares of the company’s stock, valued at $9,064,085.16. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares of the company’s stock, valued at $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.07% of the company’s stock.

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.