SG Americas Securities LLC Raises Stake in Lyft, Inc. $LYFT

SG Americas Securities LLC lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 52.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 235,572 shares of the ride-sharing company’s stock after purchasing an additional 80,894 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Lyft worth $5,185,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LYFT. HB Wealth Management LLC purchased a new stake in Lyft during the third quarter worth about $559,000. KLP Kapitalforvaltning AS increased its holdings in Lyft by 3.1% in the third quarter. KLP Kapitalforvaltning AS now owns 113,800 shares of the ride-sharing company’s stock valued at $2,505,000 after buying an additional 3,400 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Lyft by 22.6% during the 3rd quarter. Cerity Partners LLC now owns 675,876 shares of the ride-sharing company’s stock valued at $14,876,000 after acquiring an additional 124,736 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Lyft during the 3rd quarter worth approximately $386,000. Finally, Kercheville Advisors LLC purchased a new stake in shares of Lyft during the 3rd quarter worth approximately $836,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on LYFT shares. Guggenheim raised their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. BMO Capital Markets upped their target price on Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Truist Financial raised their price target on Lyft from $16.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Wall Street Zen lowered shares of Lyft from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Oppenheimer set a $26.00 price objective on shares of Lyft and gave the company an “outperform” rating in a research note on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.67.

Lyft Stock Down 1.2%

Shares of NASDAQ:LYFT opened at $19.21 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $7.67 billion, a P/E ratio of 50.55, a P/E/G ratio of 1.22 and a beta of 1.94. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The stock’s fifty day simple moving average is $20.69 and its 200-day simple moving average is $18.69.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher bought 5,030 shares of the stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $19.80 per share, with a total value of $99,594.00. Following the purchase, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. The trade was a 0.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David Lawee sold 6,578 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director owned 104,460 shares of the company’s stock, valued at $2,355,573. This trade represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 187,443 shares of company stock valued at $4,178,618. Corporate insiders own 3.07% of the company’s stock.

Lyft Company 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.