Corient Private Wealth LLC Boosts Stock Position in Lyft, Inc. $LYFT

Corient Private Wealth LLC lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 120.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,365 shares of the ride-sharing company’s stock after buying an additional 34,654 shares during the quarter. Corient Private Wealth LLC’s holdings in Lyft were worth $1,227,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LYFT. Empowered Funds LLC lifted its holdings in Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after buying an additional 2,921 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after acquiring an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Lyft in the second quarter valued at $470,000. Invesco Ltd. increased its holdings in Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after purchasing an additional 497,118 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Lyft by 12.6% during the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after buying an additional 79,634 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LYFT. Truist Financial raised their target price on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Guggenheim reissued a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Tigress Financial reaffirmed a “buy” rating and set a $28.00 price objective on shares of Lyft in a research report on Wednesday, June 24th. Canaccord Genuity Group lowered their target price on shares of Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Finally, Citigroup assumed coverage on shares of Lyft in a research note on Wednesday, June 17th. They set a “buy” rating for the company. Thirteen analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.40.

Insider Activity at Lyft

In other news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 69,196 shares of company stock worth $992,371 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $14.83 on Thursday. The stock’s 50-day moving average price is $14.03 and its 200 day moving average price is $15.24. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.63 billion, a PE ratio of 2.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.80. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. As a group, equities research analysts forecast that Lyft, Inc. will post 0.69 EPS for the current year.

About Lyft

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.