Pitcairn Co. Invests $140,000 in Lyft, Inc. (NASDAQ:LYFT)

Pitcairn Co. purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,963 shares of the ride-sharing company’s stock, valued at approximately $140,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in Lyft by 4.4% during the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after buying an additional 993 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after purchasing an additional 1,160 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Lyft by 6.1% in the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after purchasing an additional 1,437 shares in the last quarter. CWM LLC lifted its holdings in shares of Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Lyft by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after purchasing an additional 1,477 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LYFT has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Twenty-eight research 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 stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus target price of $17.55.

Insider Transactions at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,990 shares of company stock worth $317,333. 3.07% of the stock is currently owned by insiders.

Lyft Trading Down 2.4 %

NASDAQ LYFT opened at $17.18 on Friday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of -107.38, a price-to-earnings-growth ratio of 5.19 and a beta of 2.04. The company’s fifty day moving average price is $14.60 and its two-hundred day moving average price is $13.61.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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 net margin of 1.19% and a negative return on equity of 1.58%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. As a group, research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

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.