Empower Advisory Group LLC Acquires New Shares in Lyft, Inc. $LYFT

Empower Advisory Group LLC bought a new position in Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,432 shares of the ride-sharing company’s stock, valued at approximately $306,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares during the period. Atwood & Palmer Inc. bought a new stake in Lyft in the 2nd quarter valued at about $32,000. Bogart Wealth LLC boosted its stake in Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Lyft in the 1st quarter worth about $35,000. Finally, Signaturefd LLC increased its stake in shares of Lyft by 89.5% in the first quarter. Signaturefd LLC now owns 4,021 shares of the ride-sharing company’s stock valued at $48,000 after purchasing an additional 1,899 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LYFT shares. Benchmark reiterated a “buy” rating on shares of Lyft in a research report on Tuesday, October 28th. Cantor Fitzgerald boosted their price target on Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. TD Cowen increased their price target on Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lyft from $21.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Finally, UBS Group upped their price objective on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.72.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John David Risher bought 5,926 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 74,427 shares of company stock valued at $1,252,686. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Performance

NASDAQ:LYFT opened at $21.58 on Tuesday. The company has a 50-day moving average of $21.08 and a 200-day moving average of $17.37. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 56.79, a price-to-earnings-growth ratio of 2.30 and a beta of 2.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal 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.