Joule Financial LLC Grows Position in Lyft, Inc. $LYFT

Joule Financial LLC boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 105.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,074 shares of the ride-sharing company’s stock after buying an additional 50,849 shares during the period. Lyft accounts for approximately 0.7% of Joule Financial LLC’s portfolio, making the stock its 22nd biggest holding. Joule Financial LLC’s holdings in Lyft were worth $2,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in shares of Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after acquiring an additional 2,000 shares during the period. Quent Capital LLC purchased a new position in Lyft during the 3rd quarter worth $34,000. Tower Research Capital LLC TRC increased its stake in Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 2,587 shares during the period. SRH Advisors LLC acquired a new stake in shares of Lyft during the second quarter worth about $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Lyft during the second quarter worth about $62,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $17.20 on Thursday. The stock’s 50 day simple moving average is $19.71 and its 200 day simple moving average is $18.92. 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 has a market cap of $6.87 billion, a P/E ratio of 45.26, a P/E/G ratio of 1.09 and a beta of 1.94. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results 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). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on LYFT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lyft in a research note on Thursday, January 22nd. Cantor Fitzgerald dropped their price target on shares of Lyft from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Canaccord Genuity Group raised their price objective on shares of Lyft from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 10th. The Goldman Sachs Group lifted their price objective on Lyft from $21.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen downgraded Lyft from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.76.

Insider Activity at Lyft

In other news, CEO John David Risher bought 5,030 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $19.80 per share, with a total value of $99,594.00. Following the purchase, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at $233,685,460.80. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Lawee sold 6,578 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the completion of the transaction, the director owned 104,460 shares in the company, valued at approximately $2,355,573. This trade represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,443 shares of company stock valued at $4,178,618 in the last ninety days. 3.07% of the stock is owned by insiders.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.