Summit Financial LLC Decreases Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Summit Financial LLC cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,048 shares of the ride-sharing company’s stock after selling 1,078 shares during the period. Summit Financial LLC’s holdings in Lyft were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LYFT. Allworth Financial LP increased its holdings in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares during the period. BluePath Capital Management LLC purchased a new stake in Lyft in the third quarter valued at $35,000. Gables Capital Management Inc. raised its stake in shares of Lyft by 129.0% during the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock valued at $37,000 after buying an additional 2,000 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Lyft by 77.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after buying an additional 1,567 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after buying an additional 814 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 2.1 %

NASDAQ:LYFT opened at $17.20 on Friday. The firm’s fifty day simple moving average is $17.70 and its 200-day simple moving average is $14.38. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Sell-side analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lyft news, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now directly owns 346,341 shares in the company, valued at $5,434,090.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,526 shares of company stock valued at $5,358,031. 3.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on LYFT. Tigress Financial upped their price objective on Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Lyft in a research report on Wednesday, February 14th. Wells Fargo & Company raised their target price on Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, April 8th. Citigroup upped their price target on Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada raised Lyft from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $17.00 to $23.00 in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.60.

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.