Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its holdings in Lyft, Inc. (NASDAQ:LYFT) by 75.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,462 shares of the ride-sharing company’s stock after selling 251,674 shares during the period. Entropy Technologies LP’s holdings in Lyft were worth $1,026,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after acquiring an additional 1,218,620 shares in the last quarter. National Bank of Canada FI grew its stake in Lyft by 27,739.2% during the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after purchasing an additional 1,188,625 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lyft by 39.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after purchasing an additional 812,926 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lyft by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock valued at $11,767,000 after buying an additional 521,537 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $17.78 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The firm has a market capitalization of $7.29 billion, a P/E ratio of -111.13, a PEG ratio of 6.61 and a beta of 2.04. The company’s fifty day moving average is $13.23 and its two-hundred day moving average is $13.52.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. Analysts forecast that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LYFT shares. TD Cowen upped their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $13.00 in a research report on Friday, August 23rd. Truist Financial lifted their price objective on shares of Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald increased their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.48.

Insider Buying and Selling at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lyft news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,987 shares of company stock valued at $619,025. Insiders own 3.07% of the company’s stock.

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.