Knollwood Investment Advisory LLC Has $7.09 Million Stock Position in Lyft, Inc. $LYFT

Knollwood Investment Advisory LLC cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 20.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 450,000 shares of the ride-sharing company’s stock after selling 117,575 shares during the period. Knollwood Investment Advisory LLC’s holdings in Lyft were worth $7,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYFT. Marshall Wace LLP boosted its stake in Lyft by 75.7% during the 2nd quarter. Marshall Wace LLP now owns 5,464,934 shares of the ride-sharing company’s stock valued at $86,127,000 after purchasing an additional 2,353,769 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Lyft by 913.8% in the second quarter. EverSource Wealth Advisors LLC now owns 26,065 shares of the ride-sharing company’s stock worth $411,000 after purchasing an additional 23,494 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Lyft by 87.5% in the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after purchasing an additional 497,118 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of Lyft by 15.0% during the second quarter. Beacon Pointe Advisors LLC now owns 152,514 shares of the ride-sharing company’s stock valued at $2,404,000 after buying an additional 19,945 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Lyft by 397.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,176,890 shares of the ride-sharing company’s stock valued at $18,548,000 after buying an additional 940,485 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LYFT shares. TD Cowen increased their price target on Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Susquehanna raised their price target on shares of Lyft from $14.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Zephirin Group boosted 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, November 6th. Roth Capital set a $25.00 price objective on shares of Lyft and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Cantor Fitzgerald lifted their target price on shares of Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $22.67.

Lyft Stock Performance

NASDAQ LYFT opened at $22.52 on Friday. The company has a market capitalization of $8.99 billion, a PE ratio of 59.26, a price-to-earnings-growth ratio of 2.22 and a beta of 1.99. 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, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The company has a 50-day simple moving average of $21.11 and a 200 day simple moving average of $17.87.

Lyft (NASDAQ:LYFT) last released its earnings results 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). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jill Beggs sold 1,466 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $20.25, for a total value of $29,686.50. Following the completion of the sale, the director owned 34,278 shares in the company, valued at approximately $694,129.50. The trade was a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.07% of the stock is currently owned by corporate insiders.

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.