Oak Thistle LLC reduced its holdings in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) by 37.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,779 shares of the ride-sharing company’s stock after selling 23,151 shares during the period. Oak Thistle LLC’s holdings in Lyft were worth $500,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in LYFT. Nordea Investment Management AB grew its holdings in shares of Lyft by 59.6% during the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after purchasing an additional 142,880 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lyft during the second quarter valued at about $388,000. New York State Teachers Retirement System purchased a new position in shares of Lyft in the third quarter worth about $423,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Lyft in the second quarter worth about $3,349,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Lyft in the 3rd quarter valued at about $716,000. 83.07% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now directly owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,242 shares of company stock valued at $427,330. 3.07% of the stock is owned by insiders.
Lyft Trading Up 1.5 %
Lyft (NASDAQ:LYFT – Get Free Report) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. On average, equities research analysts forecast that Lyft, Inc. will post 0.06 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on LYFT. Truist Financial lifted their price target on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Loop Capital lifted their target price on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their price target on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Raymond James initiated coverage on shares of Lyft in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Finally, Bank of America increased their target price on shares of Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lyft currently has an average rating of “Hold” and an average target price of $17.84.
View Our Latest Stock Report on LYFT
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.
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