Qsemble Capital Management LP Has $274,000 Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Qsemble Capital Management LP grew its position in Lyft, Inc. (NASDAQ:LYFT) by 99.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,524 shares of the ride-sharing company’s stock after purchasing an additional 10,743 shares during the period. Qsemble Capital Management LP’s holdings in Lyft were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in shares of Lyft in the third quarter valued at about $90,604,000. Primecap Management Co. CA raised its holdings in shares of Lyft by 3.8% in the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after purchasing an additional 235,510 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after purchasing an additional 812,926 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Lyft by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after purchasing an additional 167,400 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after purchasing an additional 1,218,620 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LYFT shares. Cantor Fitzgerald raised their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $23.00 price objective (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Raymond James started coverage on shares of Lyft in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Jefferies Financial Group raised their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and an average target price of $17.55.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,990 shares of company stock valued at $317,333. 3.07% of the stock is currently owned by corporate insiders.

Lyft Trading Down 2.4 %

Shares of LYFT opened at $17.18 on Thursday. The firm’s 50 day simple moving average is $14.51 and its 200 day simple moving average is $13.58. The company has a market capitalization of $7.13 billion, a P/E ratio of -107.38, a P/E/G ratio of 5.19 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business 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 quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. Sell-side analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

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.