Northwestern Mutual Wealth Management Co. Has $969,000 Position in Lyft, Inc. $LYFT

Northwestern Mutual Wealth Management Co. lowered its position in Lyft, Inc. (NASDAQ:LYFT) by 98.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,008 shares of the ride-sharing company’s stock after selling 3,587,895 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Lyft were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of Lyft in the fourth quarter valued at approximately $40,000. Huntington National Bank increased its stake in shares of Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Lyft in the third quarter valued at approximately $50,000. CI Investments Inc. increased its stake in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 653 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of Lyft in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the topic of several analyst reports. Mizuho reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Guggenheim reduced their target price on Lyft from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Wells Fargo & Company reduced their target price on Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Barclays reduced their target price on Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald reduced their target price on Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.83.

Insiders Place Their Bets

In other Lyft news, Director Jill Beggs sold 2,093 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $354,915.00. Following the transaction, the insider owned 916,022 shares in the company, valued at $13,740,330. The trade was a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,196 shares of company stock worth $788,521. Corporate insiders own 0.92% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $14.02 on Tuesday. The business’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $16.06. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The stock has a market capitalization of $5.32 billion, a PE ratio of 2.05, a PEG ratio of 0.85 and a beta of 1.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.Lyft’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, research analysts forecast that Lyft, Inc. will post 0.66 earnings per share for the current year.

Lyft declared that its board has initiated a share repurchase program on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.