Stifel Financial Corp Cuts Holdings in Lyft, Inc. (NASDAQ:LYFT)

Stifel Financial Corp trimmed its position in Lyft, Inc. (NASDAQ:LYFT) by 92.2% in the third quarter, HoldingsChannel reports. The firm owned 10,519 shares of the ride-sharing company’s stock after selling 124,617 shares during the quarter. Stifel Financial Corp’s holdings in Lyft were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LYFT. Crossmark Global Holdings Inc. grew its holdings in shares of Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after acquiring an additional 993 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Lyft by 9.1% in the 2nd 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 during the period. The Manufacturers Life Insurance Company increased its position in shares of Lyft by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after purchasing an additional 1,315 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock worth $2,612,000 after purchasing an additional 1,477 shares during the period. Finally, Carret Asset Management LLC boosted its holdings in shares of Lyft by 14.8% in the 2nd quarter. Carret Asset Management LLC now owns 11,800 shares of the ride-sharing company’s stock worth $166,000 after buying an additional 1,525 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $13.05 on Tuesday. The firm has a 50 day simple moving average of $15.44 and a two-hundred day simple moving average of $13.43. 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 stock has a market cap of $5.41 billion, a PE ratio of -81.56, a P/E/G ratio of 4.10 and a beta of 2.09. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last released 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 business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis. On average, analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s 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 transaction, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the 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 of the company’s stock, 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. Over the last quarter, insiders have sold 24,242 shares of company stock worth $427,330. Company insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LYFT shares. DA Davidson raised their price objective on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley raised their price target on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Bank of America raised their target price on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Mkm upped their price target on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.77.

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.