Blueshift Asset Management LLC Sells 2,334 Shares of Lyft, Inc. (NASDAQ:LYFT)

Blueshift Asset Management LLC decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 10.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,182 shares of the ride-sharing company’s stock after selling 2,334 shares during the quarter. Blueshift Asset Management LLC’s holdings in Lyft were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LYFT. Brown Brothers Harriman & Co. purchased a new position in Lyft during the 2nd quarter valued at about $35,000. International Assets Investment Management LLC bought a new stake in Lyft during the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Lyft in the 3rd quarter worth approximately $38,000. Quarry LP boosted its holdings in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in shares of Lyft during the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 2.4 %

Shares of NASDAQ:LYFT opened at $17.18 on Friday. The firm has a market capitalization of $7.13 billion, a P/E ratio of -107.38, a P/E/G ratio of 5.19 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $14.60 and a 200-day moving average price of $13.61. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on LYFT shares. Bank of America boosted their target price on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company restated a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. Barclays boosted their price target on shares of Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Nomura upgraded shares of Lyft from a “reduce” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $13.00 in a research report on Friday, August 23rd. Finally, Nomura Securities upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lyft has an average rating of “Hold” and a consensus price target of $17.55.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the transaction, the insider now directly owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,990 shares of company stock valued at $317,333 in the last quarter. 3.07% of the stock is owned by insiders.

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.