Lyft, Inc. (NASDAQ:LYFT) Holdings Reduced by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC lessened its stake in Lyft, Inc. (NASDAQ:LYFT) by 33.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,485 shares of the ride-sharing company’s stock after selling 21,199 shares during the period. Catalyst Private Wealth LLC’s holdings in Lyft were worth $535,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in shares of Lyft in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in Lyft in the fourth quarter worth approximately $31,000. Brown Brothers Harriman & Co. bought a new position in shares of Lyft in the second quarter valued at $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lyft during the 3rd quarter valued at $38,000. Finally, Quarry LP boosted its stake in shares of Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Tigress Financial raised their price target on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Loop Capital upped their price objective on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Bank of America upped their price target on shares of Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and an average price target of $17.78.

Lyft Price Performance

Shares of NASDAQ:LYFT traded up $0.01 on Monday, hitting $12.99. The stock had a trading volume of 16,796,561 shares, compared to its average volume of 17,177,941. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of -81.19, a price-to-earnings-growth ratio of 4.10 and a beta of 2.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day moving average price is $15.43 and its 200-day moving average price is $13.42. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, equities research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the transaction, the insider now owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,242 shares of company stock worth $427,330. Insiders own 3.07% of the company’s stock.

About Lyft

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.