Summit Trail Advisors LLC Sells 1,070 Shares of Lyft, Inc. (NASDAQ:LYFT)

Summit Trail Advisors LLC trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,374 shares of the ride-sharing company’s stock after selling 1,070 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lyft were worth $815,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SouthState Corp lifted its stake in shares of Lyft by 103.8% in the fourth quarter. SouthState Corp now owns 12,345 shares of the ride-sharing company’s stock worth $185,000 after buying an additional 6,288 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the fourth quarter valued at about $34,000. Victory Capital Management Inc. grew its position in shares of Lyft by 3.3% in the fourth quarter. Victory Capital Management Inc. now owns 185,963 shares of the ride-sharing company’s stock valued at $2,788,000 after purchasing an additional 6,018 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Lyft during the 4th quarter worth about $326,000. Finally, Van ECK Associates Corp acquired a new position in shares of Lyft during the 4th quarter worth about $1,830,000. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Down 2.3 %

Shares of Lyft stock traded down $0.40 during trading on Tuesday, reaching $17.12. 3,362,563 shares of the company were exchanged, compared to its average volume of 16,076,691. Lyft, Inc. has a twelve month low of $7.85 and a twelve month high of $20.82. The business has a 50-day moving average price of $17.75 and a 200-day moving average price of $14.54. 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 announced its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. On average, equities analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on LYFT shares. Barclays upped their price target on Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, March 5th. Moffett Nathanson raised shares of Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. BMO Capital Markets initiated coverage on Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price on the stock. Finally, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target (up previously from $14.00) on shares of Lyft in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and a consensus price target of $15.16.

Insiders Place Their Bets

In related news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the sale, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $16.06, for a total value of $290,123.90. Following the sale, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at approximately $4,108,421.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the transaction, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,526 shares of company stock worth $5,358,031. Company insiders own 3.16% 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.