Corient Private Wealth LLC Boosts Stake in Lyft, Inc. $LYFT

Corient Private Wealth LLC increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 120.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,365 shares of the ride-sharing company’s stock after acquiring an additional 34,654 shares during the period. Corient Private Wealth LLC’s holdings in Lyft were worth $1,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brown Brothers Harriman & Co. increased its position in shares of Lyft by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after buying an additional 639 shares in the last quarter. CI Investments Inc. grew its stake in Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after acquiring an additional 653 shares during the period. PNC Financial Services Group Inc. grew its stake in Lyft by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after acquiring an additional 681 shares during the period. Allegiance Financial Group Advisory Services LLC increased its holdings in Lyft by 4.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock worth $352,000 after acquiring an additional 756 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Lyft by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after acquiring an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 1.5%

Shares of NASDAQ LYFT opened at $14.83 on Thursday. The company has a market capitalization of $5.63 billion, a P/E ratio of 2.16, a P/E/G ratio of 0.87 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 company has a 50 day simple moving average of $14.03 and a 200-day simple moving average of $15.24. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $354,915.00. Following the sale, the insider directly owned 916,022 shares in the company, valued at approximately $13,740,330. The trade was a 2.52% decrease in their position. The sale 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, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares in the company, valued at $414,065.92. The trade was a 6.50% 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 90 days, insiders sold 69,196 shares of company stock worth $992,371. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LYFT shares. Royal Bank Of Canada reduced their price objective on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their price target 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. DA Davidson decreased their price target on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.40.

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.