Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 75.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 80,462 shares of the ride-sharing company’s stock after selling 251,674 shares during the period. Entropy Technologies LP’s holdings in Lyft were worth $1,026,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Swiss National Bank raised its stake in Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after purchasing an additional 13,300 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Lyft by 430.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after buying an additional 3,154 shares during the period. CWM LLC raised its position in shares of Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after buying an additional 1,457 shares during the period. Comerica Bank boosted its holdings in Lyft by 310.3% in the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after acquiring an additional 77,578 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Lyft during the second quarter valued at about $388,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LYFT. Wedbush reissued a “neutral” rating and set a $20.00 target price (up previously from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Evercore ISI raised their price objective on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their target price on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley upped their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, Truist Financial lifted their price objective on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lyft presently has an average rating of “Hold” and a consensus price target of $17.48.

Lyft Stock Performance

LYFT opened at $17.78 on Thursday. The stock has a 50-day moving average of $13.23 and a 200-day moving average of $13.52. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. 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 company has a market cap of $7.29 billion, a PE ratio of -111.13, a price-to-earnings-growth ratio of 6.61 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its 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. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates 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 was up 31.6% compared to the same quarter last year. During the same period last year, the business posted ($0.02) EPS. As a group, equities research analysts forecast that Lyft, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now owns 764,332 shares of the company’s stock, valued at $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the transaction, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the 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 completion of the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,987 shares of company stock worth $619,025. Company insiders own 3.07% of the company’s stock.

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.