Inceptionr LLC Buys New Stake in Lyft, Inc. $LYFT

Inceptionr LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 51,731 shares of the ride-sharing company’s stock, valued at approximately $688,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Lyft during the 4th quarter valued at $26,000. Bessemer Group Inc. grew its stake in Lyft by 1,851.9% during the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 2,500 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Lyft during the 4th quarter worth $40,000. Huntington National Bank grew its stake in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 1,374 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new position in Lyft during the 1st quarter valued at about $43,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LYFT. Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. Truist Financial boosted their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Citigroup began coverage on shares of Lyft in a report on Wednesday, June 17th. They set a “buy” rating on the stock. Canaccord Genuity Group decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Jefferies Financial Group lifted their target price on shares of Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.40.

Lyft Price Performance

NASDAQ LYFT opened at $14.20 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 2.07, a PEG ratio of 0.83 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s fifty day moving average price is $14.46 and its 200 day moving average price is $14.77. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider owned 853,731 shares in the company, valued at $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the completion of the transaction, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 45,535 shares of company stock valued at $637,456. 0.92% of the stock is owned by company insiders.

Lyft Profile

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.