Lyft, Inc. (NASDAQ:LYFT) Stake Trimmed by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,907 shares of the ride-sharing company’s stock after selling 48,900 shares during the period. Penserra Capital Management LLC owned about 0.05% of Lyft worth $2,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LYFT. CWM LLC raised its holdings in shares of Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after acquiring an additional 1,457 shares during the period. Comerica Bank raised its stake in Lyft by 310.3% during the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after purchasing an additional 77,578 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Lyft in the second quarter valued at $388,000. New York State Teachers Retirement System acquired a new stake in shares of Lyft in the third quarter worth $423,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Lyft during the second quarter valued at $3,349,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of Lyft stock opened at $17.89 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $7.42 billion, a PE ratio of -111.81, a price-to-earnings-growth ratio of 4.87 and a beta of 2.04. The firm has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $13.56. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. Analysts expect that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other Lyft 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 transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now directly owns 760,089 shares in the company, valued at $9,121,068. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,990 shares of company stock worth $317,333. Company insiders own 3.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LYFT. Roth Mkm increased their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson increased their price target on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Bank of America upped their price objective on shares of Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.55.

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.