Catalyst Private Wealth LLC Lowers Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Catalyst Private Wealth LLC reduced its position in Lyft, Inc. (NASDAQ:LYFTFree Report) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,095 shares of the ride-sharing company’s stock after selling 13,212 shares during the period. Lyft comprises approximately 0.7% of Catalyst Private Wealth LLC’s holdings, making the stock its 24th biggest holding. Catalyst Private Wealth LLC’s holdings in Lyft were worth $1,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYFT. Norges Bank purchased a new stake in Lyft in the 4th quarter worth approximately $94,687,000. Kodai Capital Management LP purchased a new stake in Lyft in the 4th quarter worth approximately $26,069,000. Bank of Nova Scotia purchased a new stake in Lyft in the 4th quarter worth approximately $21,433,000. Vanguard Group Inc. grew its stake in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Lyft by 126.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after acquiring an additional 1,080,009 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the completion of the sale, the president now owns 54,278 shares of the company’s stock, valued at approximately $855,964.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John Patrick Zimmer sold 3,327 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total transaction of $52,366.98. Following the completion of the sale, the director now owns 921,294 shares of the company’s stock, valued at approximately $14,501,167.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the sale, the president now directly owns 54,278 shares of the company’s stock, valued at approximately $855,964.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,833 shares of company stock valued at $590,509. Insiders own 3.07% of the company’s stock.

Lyft Trading Down 2.2 %

Shares of LYFT traded down $0.30 during midday trading on Friday, hitting $13.45. The company had a trading volume of 17,343,648 shares, compared to its average volume of 13,272,242. The company’s 50 day moving average price is $16.01 and its 200 day moving average price is $15.73. Lyft, Inc. has a 52 week low of $8.85 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82.

Lyft (NASDAQ:LYFTGet Free Report) last released its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. As a group, equities analysts predict that Lyft, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LYFT. Truist Financial boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Company boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, April 8th. Gordon Haskett raised shares of Lyft from a “hold” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $20.00 in a research note on Friday, June 7th. Vertical Research raised shares of Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Citigroup boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.04.

View Our Latest Research Report on LYFT

Lyft Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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