Swiss National Bank Increases Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Swiss National Bank boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 732,500 shares of the ride-sharing company’s stock after buying an additional 1,500 shares during the period. Swiss National Bank owned approximately 0.18% of Lyft worth $9,339,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Lyft by 592.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after buying an additional 1,218,620 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Lyft by 28.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 23,783 shares of the ride-sharing company’s stock valued at $460,000 after acquiring an additional 5,257 shares during the period. Tidal Investments LLC bought a new position in Lyft in the 1st quarter valued at $4,117,000. Comerica Bank increased its stake in Lyft by 310.3% in the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock worth $1,985,000 after purchasing an additional 77,578 shares during the period. Finally, Strategic Wealth Partners Ltd. bought a new stake in shares of Lyft during the first quarter worth $708,000. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Up 3.1 %

Lyft stock opened at $16.79 on Monday. The business’s 50-day simple moving average is $14.17 and its two-hundred day simple moving average is $13.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $6.96 billion, a PE ratio of -104.94, a PEG ratio of 4.73 and a beta of 2.04. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Lyft’s revenue for the quarter was up 31.6% on a year-over-year basis. Equities analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Lyft

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred 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 directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,799 shares of company stock worth $537,082 over the last 90 days. 3.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on LYFT. BMO Capital Markets raised their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Loop Capital reduced their price objective on Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Evercore ISI upped their target price on Lyft from $17.00 to $19.00 and gave the stock an “in-line” 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.55.

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.