Catalyst Private Wealth LLC Sells 21,199 Shares of Lyft, Inc. (NASDAQ:LYFT)

Catalyst Private Wealth LLC cut its position in Lyft, Inc. (NASDAQ:LYFT) by 33.8% during the 4th quarter, HoldingsChannel reports. The firm owned 41,485 shares of the ride-sharing company’s stock after selling 21,199 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Lyft were worth $535,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Lyft during the 3rd quarter worth approximately $90,604,000. Maple Rock Capital Partners Inc. lifted its position in Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Lyft during the third quarter worth about $13,430,000. Finally, Huber Capital Management LLC grew its stake in shares of Lyft by 62.1% during the second quarter. Huber Capital Management LLC now owns 631,189 shares of the ride-sharing company’s stock worth $8,900,000 after buying an additional 241,814 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Tigress Financial lifted their target price on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. TD Cowen upped their price target on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised their price objective on 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 reiterated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Finally, BMO Capital Markets raised their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Twenty-seven investment 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’s stock. Based on data from MarketBeat, Lyft currently has a consensus rating of “Hold” and a consensus target price of $17.78.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at $13,423,842.72. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Logan Green sold 10,919 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,242 shares of company stock valued at $427,330. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

Shares of LYFT traded up $0.01 during trading hours on Monday, hitting $12.99. 16,796,561 shares of the stock were exchanged, compared to its average volume of 17,177,941. The stock’s 50-day moving average price is $15.43 and its two-hundred day moving average price is $13.42. 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 company has a market cap of $5.39 billion, a price-to-earnings ratio of -81.19, a price-to-earnings-growth ratio of 4.10 and a beta of 2.14. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

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

Lyft 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.