Rheos Capital Works Inc. Sells 1,000,000 Shares of Lyft, Inc. $LYFT

Rheos Capital Works Inc. trimmed its stake in Lyft, Inc. (NASDAQ:LYFT) by 42.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,350,000 shares of the ride-sharing company’s stock after selling 1,000,000 shares during the period. Lyft makes up approximately 1.7% of Rheos Capital Works Inc.’s portfolio, making the stock its 21st biggest holding. Rheos Capital Works Inc. owned approximately 0.33% of Lyft worth $29,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Lyft during the first quarter valued at about $607,000. Joule Financial LLC bought a new stake in shares of Lyft in the 2nd quarter valued at about $760,000. Kaufman Rossin Wealth LLC boosted its holdings in Lyft by 93.1% during the 2nd quarter. Kaufman Rossin Wealth LLC now owns 32,188 shares of the ride-sharing company’s stock valued at $507,000 after acquiring an additional 15,518 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Lyft by 42.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 110,400 shares of the ride-sharing company’s stock valued at $1,740,000 after acquiring an additional 33,000 shares during the period. Finally, Rhumbline Advisers grew its position in Lyft by 7.3% during the 1st quarter. Rhumbline Advisers now owns 417,709 shares of the ride-sharing company’s stock worth $4,958,000 after acquiring an additional 28,357 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYFT has been the subject of a number of analyst reports. Evercore ISI increased their price objective on Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research note on Thursday, November 6th. Guggenheim upped their price target on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Oppenheimer set a $26.00 price target on shares of Lyft and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group decreased their price objective on shares of Lyft from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Finally, Morgan Stanley increased their target price on shares of Lyft from $20.50 to $22.50 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.80.

Lyft Stock Up 3.7%

Shares of NASDAQ LYFT opened at $19.86 on Wednesday. The firm has a fifty day simple moving average of $20.73 and a two-hundred day simple moving average of $18.63. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $7.93 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.94.

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

Insider Activity

In other news, CEO John David Risher purchased 5,030 shares of Lyft stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the completion of the purchase, the chief executive officer directly owned 11,802,296 shares in the company, valued at approximately $233,685,460.80. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Prashant Aggarwal sold 96,900 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $2,160,870.00. Following the completion of the transaction, the director owned 874,369 shares of the company’s stock, valued at approximately $19,498,428.70. This trade represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 187,443 shares of company stock worth $4,178,618. Company insiders own 3.07% of the company’s stock.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.