79,211 Shares in Lyft, Inc. $LYFT Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. bought a new position in Lyft, Inc. (NASDAQ:LYFT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 79,211 shares of the ride-sharing company’s stock, valued at approximately $1,248,000.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Lyft during the second quarter valued at approximately $32,000. Bogart Wealth LLC lifted its position in Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. SRH Advisors LLC bought a new position in shares of Lyft in the 2nd quarter worth $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Lyft in the 2nd quarter worth $62,000. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider directly owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jill Beggs sold 1,466 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $20.25, for a total transaction of $29,686.50. Following the sale, the director owned 34,278 shares of the company’s stock, valued at approximately $694,129.50. This represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

LYFT opened at $22.52 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $21.11 and its 200 day simple moving average is $17.87. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 2.22 and a beta of 1.99. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating on shares of Lyft in a report on Thursday, November 6th. Oppenheimer set a $26.00 price target on Lyft and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Truist Financial increased their price objective on Lyft from $16.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Sanford C. Bernstein boosted their target price on Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Lyft from $21.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Eleven investment analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.67.

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.