SouthState Corp Purchases 6,288 Shares of Lyft, Inc. (NASDAQ:LYFT)

SouthState Corp boosted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 103.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,345 shares of the ride-sharing company’s stock after buying an additional 6,288 shares during the period. SouthState Corp’s holdings in Lyft were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LYFT. Creative Financial Designs Inc. ADV lifted its stake in shares of Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after acquiring an additional 814 shares during the last quarter. CWM LLC increased its position in shares of Lyft by 15.4% during the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after acquiring an additional 1,093 shares during the period. Arizona State Retirement System raised its stake in shares of Lyft by 1.4% during the third quarter. Arizona State Retirement System now owns 94,693 shares of the ride-sharing company’s stock valued at $998,000 after acquiring an additional 1,291 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Lyft by 5.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock worth $336,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 1,567 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares in the company, valued at $1,063,615. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Logan Green sold 11,867 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the sale, the director now directly owns 346,341 shares in the company, valued at $5,434,090.29. The disclosure for this sale can be found here. Insiders have sold a total of 280,526 shares of company stock valued at $5,358,031 over the last ninety days. Company insiders own 3.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler raised their price target on Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Moffett Nathanson raised shares of Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. UBS Group increased their target price on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Barclays upped their price objective on Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, TD Cowen boosted their target price on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.60.

Lyft Price Performance

NASDAQ:LYFT traded up $0.36 during midday trading on Friday, hitting $17.20. The company’s stock had a trading volume of 16,009,658 shares, compared to its average volume of 11,513,318. The firm’s 50 day moving average is $17.70 and its 200-day moving average is $14.38. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, equities analysts anticipate that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

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.