Hedges Asset Management LLC Has $1.58 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Hedges Asset Management LLC reduced its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 122,300 shares of the ride-sharing company’s stock after selling 1,700 shares during the period. Hedges Asset Management LLC’s holdings in Lyft were worth $1,578,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Lyft during the third quarter worth $27,000. ORG Wealth Partners LLC bought a new position in Lyft during the 4th quarter worth about $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Lyft in the 3rd quarter valued at about $38,000. Quarry LP lifted its holdings in shares of Lyft by 4,032.6% in the second 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 in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Lyft during the third quarter worth about $70,000. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 1.3 %

Shares of Lyft stock opened at $13.60 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a 50-day simple moving average of $14.93 and a two-hundred day simple moving average of $13.41.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. Equities research analysts predict that Lyft, Inc. will post 0.06 EPS for the current year.

Insider Activity

In other news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,242 shares of company stock worth $427,330. 3.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LYFT has been the topic of several research reports. UBS Group boosted their target price on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Roth Mkm boosted their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Tigress Financial raised their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.84.

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.