Summit Trail Advisors LLC Reduces Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Summit Trail Advisors LLC cut its holdings in Lyft, Inc. (NASDAQ:LYFT) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,374 shares of the ride-sharing company’s stock after selling 1,070 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lyft were worth $815,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in shares of Lyft by 685.2% during the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in Lyft during the 4th quarter valued at approximately $34,000. BluePath Capital Management LLC purchased a new stake in shares of Lyft in the 3rd quarter valued at $35,000. Gables Capital Management Inc. increased its stake in shares of Lyft by 129.0% in the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 2,000 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT traded down $0.40 during mid-day trading on Tuesday, hitting $17.12. 3,362,563 shares of the company’s stock were exchanged, compared to its average volume of 16,076,691. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The business’s 50 day moving average is $17.75 and its two-hundred day moving average is $14.54. 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 (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. On average, analysts expect that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction dated 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 $1,063,615. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 15,724 shares of Lyft stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the sale, the director now owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The disclosure for this sale can be found here. Insiders sold 280,526 shares of company stock valued at $5,358,031 over the last ninety days. Corporate insiders own 3.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush reiterated a “neutral” rating and set a $15.00 price target (up from $14.00) on shares of Lyft in a research report on Wednesday, February 14th. Citigroup raised their price target on shares of Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. Morgan Stanley lifted their price target on Lyft from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.16.

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.