Optas LLC Lowers Position in Lyft, Inc. (NASDAQ:LYFT)

Optas LLC reduced its stake in Lyft, Inc. (NASDAQ:LYFT) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,506 shares of the ride-sharing company’s stock after selling 1,359 shares during the period. Optas LLC’s holdings in Lyft were worth $198,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LYFT. Crossmark Global Holdings Inc. grew its stake in shares of Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after buying an additional 993 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Lyft by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after purchasing an additional 1,160 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Lyft by 6.1% in the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after purchasing an additional 1,437 shares during the period. Finally, CWM LLC grew its holdings in shares of Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LYFT. Citigroup reduced their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Wedbush reiterated an “underperform” rating on shares of Lyft in a research note on Friday, October 18th. Evercore ISI cut their target price on shares of Lyft from $18.00 to $17.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Finally, Melius initiated coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price target for the company. One research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.87.

Lyft Stock Performance

Shares of LYFT stock opened at $13.48 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $12.57 and a 200-day simple moving average of $13.53. The company has a market cap of $5.53 billion, a price-to-earnings ratio of -84.25 and a beta of 2.04. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Lyft’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts forecast that Lyft, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 10,323 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares in the company, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the sale, the insider now owns 760,089 shares in the company, valued at $9,121,068. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,664 shares of company stock valued at $380,048. Corporate insiders own 3.07% of the company’s stock.

About Lyft

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.