GSA Capital Partners LLP Purchases 12,252 Shares of Lyft, Inc. (NASDAQ:LYFT)

GSA Capital Partners LLP increased its position in Lyft, Inc. (NASDAQ:LYFT) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,615 shares of the ride-sharing company’s stock after purchasing an additional 12,252 shares during the quarter. GSA Capital Partners LLP’s holdings in Lyft were worth $1,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new position in Lyft in the third quarter worth approximately $716,000. Los Angeles Capital Management LLC bought a new position in Lyft in the third quarter worth approximately $310,000. State of New Jersey Common Pension Fund D grew its stake in Lyft by 16.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 168,385 shares of the ride-sharing company’s stock worth $2,147,000 after purchasing an additional 23,735 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Lyft during the third quarter worth $38,000. Finally, Van ECK Associates Corp lifted its holdings in Lyft by 19.3% during the third quarter. Van ECK Associates Corp now owns 349,742 shares of the ride-sharing company’s stock worth $4,777,000 after buying an additional 56,630 shares during the period. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LYFT shares. Cantor Fitzgerald upped their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $23.00 target price (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Canaccord Genuity Group upped their target price on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $13.00 in a report on Friday, August 23rd. Finally, UBS Group increased their price objective on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.48.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,987 shares of company stock worth $619,025 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

NASDAQ:LYFT opened at $17.92 on Friday. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.35 billion, a PE ratio of -112.00, a price-to-earnings-growth ratio of 6.61 and a beta of 2.04. The stock’s 50-day moving average price is $13.36 and its 200-day moving average price is $13.55.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Lyft Company Profile

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.