Pallas Capital Advisors LLC Increases Holdings in Lyft, Inc. (NASDAQ:LYFT)

Pallas Capital Advisors LLC boosted its position in Lyft, Inc. (NASDAQ:LYFT) by 42.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,181 shares of the ride-sharing company’s stock after purchasing an additional 9,342 shares during the period. Pallas Capital Advisors LLC’s holdings in Lyft were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miracle Mile Advisors LLC boosted its stake in shares of Lyft by 11.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 12,864 shares of the ride-sharing company’s stock valued at $166,000 after purchasing an additional 1,277 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Lyft in the fourth quarter worth $31,000. Nordea Investment Management AB boosted its position in Lyft by 59.6% during 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 buying an additional 142,880 shares during the period. Everence Capital Management Inc. bought a new position in shares of Lyft during the fourth quarter valued at about $171,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Lyft by 37.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 45,976 shares of the ride-sharing company’s stock worth $585,000 after buying an additional 12,462 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Lyft Trading Down 0.2 %

NASDAQ LYFT opened at $12.97 on Wednesday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average price is $15.40 and its 200-day moving average price is $13.41. The stock has a market cap of $5.38 billion, a P/E ratio of -81.06, a P/E/G ratio of 4.10 and a beta of 2.14.

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

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now directly owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group increased their target price on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, January 6th. Wedbush decreased their target price on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group upped their price target on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets raised their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft currently has an average rating of “Hold” and a consensus price target of $17.78.

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.