Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 72.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,898 shares of the ride-sharing company’s stock after selling 5,101 shares during the period. Tower Research Capital LLC TRC’s holdings in Lyft were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LYFT. Vanguard Group Inc. boosted its position in Lyft by 3.7% during the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after purchasing an additional 1,135,036 shares in the last quarter. Norges Bank acquired a new position in shares of Lyft during the 4th quarter worth approximately $94,687,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Lyft by 5.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock valued at $59,229,000 after buying an additional 300,982 shares in the last quarter. Invesco Ltd. grew its stake in Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after acquiring an additional 778,563 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after acquiring an additional 141,823 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the transaction, the president now directly owns 60,778 shares in the company, valued at approximately $1,063,615. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares in the company, valued at $1,063,615. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock worth $5,358,031 over the last ninety days. Corporate insiders own 3.16% of the company’s stock.

Lyft Trading Up 2.1 %

NASDAQ LYFT traded up $0.36 during trading hours on Friday, reaching $17.20. The company had a trading volume of 16,009,658 shares, compared to its average volume of 11,513,318. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $6.88 billion, a P/E ratio of -19.33 and a beta of 2.05. The stock has a 50-day moving average of $17.72 and a 200 day moving average of $14.43. Lyft, Inc. has a 1-year low of $7.85 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, research analysts anticipate that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

LYFT has been the topic of several research analyst reports. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. Barclays raised their target price on Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. The Goldman Sachs Group cut Lyft from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $15.00 in a research report on Thursday, January 11th. Citigroup raised their price objective on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Piper Sandler upped their target price on shares of Lyft from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.60.

About Lyft

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.