PSI Advisors LLC Reduces Position in Lyft, Inc. (NASDAQ:LYFT)

PSI Advisors LLC decreased its holdings in Lyft, Inc. (NASDAQ:LYFT) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,100 shares of the ride-sharing company’s stock after selling 2,600 shares during the period. PSI Advisors LLC’s holdings in Lyft were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LYFT. Pallas Capital Advisors LLC raised its stake in shares of Lyft by 42.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 31,181 shares of the ride-sharing company’s stock valued at $402,000 after purchasing an additional 9,342 shares during the period. Miracle Mile Advisors LLC increased its position in shares of Lyft by 11.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 12,864 shares of the ride-sharing company’s stock valued at $166,000 after buying an additional 1,277 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Lyft in the fourth quarter worth about $31,000. Nordea Investment Management AB boosted its position in shares of Lyft by 59.6% in the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after acquiring an additional 142,880 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in Lyft during the fourth quarter valued at approximately $171,000. Institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $12.97 on Wednesday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -81.06, a PEG ratio of 4.10 and a beta of 2.14. The firm’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $13.41. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. Lyft’s revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, January 6th. Evercore ISI boosted their target price on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group upped their target price on Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their price target on Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus target price of $17.78.

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.