Oak Thistle LLC Sells 23,151 Shares of Lyft, Inc. (NASDAQ:LYFT)

Oak Thistle LLC cut its holdings in Lyft, Inc. (NASDAQ:LYFT) by 37.4% during the 4th quarter, Holdings Channel reports. The fund owned 38,779 shares of the ride-sharing company’s stock after selling 23,151 shares during the period. Oak Thistle LLC’s holdings in Lyft were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LYFT. Commonwealth Equity Services LLC raised its holdings in Lyft by 10.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 43,728 shares of the ride-sharing company’s stock worth $617,000 after purchasing an additional 4,115 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Lyft in the second quarter worth about $35,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Lyft during the 2nd quarter valued at about $2,777,000. Dimensional Fund Advisors LP grew its stake in shares of Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after acquiring an additional 1,477 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Lyft in the 2nd quarter worth approximately $396,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

LYFT opened at $13.60 on Friday. The business has a fifty day moving average of $15.38 and a 200 day moving average of $13.41. The stock has a market cap of $5.64 billion, a P/E ratio of -85.00, a PEG ratio of 1.72 and a beta of 2.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on LYFT shares. Raymond James initiated coverage on shares of Lyft in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. Evercore ISI increased their price target on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday. Canaccord Genuity Group increased their target price on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.84.

Insiders Place Their Bets

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 in the last three months. Corporate insiders own 3.07% of the company’s stock.

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.