Kestra Advisory Services LLC Sells 102,164 Shares of Lyft, Inc. $LYFT

Kestra Advisory Services LLC trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 66.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 52,485 shares of the ride-sharing company’s stock after selling 102,164 shares during the quarter. Kestra Advisory Services LLC’s holdings in Lyft were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Lyft by 7.4% in the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after acquiring an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lyft by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock worth $191,245,000 after acquiring an additional 1,320,938 shares during the last quarter. Norges Bank purchased a new stake in Lyft during the fourth quarter valued at approximately $109,987,000. Swedbank AB purchased a new stake in Lyft during the fourth quarter valued at approximately $108,472,000. Finally, Altshuler Shaham Ltd lifted its stake in shares of Lyft by 0.6% in the 4th quarter. Altshuler Shaham Ltd now owns 5,054,610 shares of the ride-sharing company’s stock valued at $97,908,000 after purchasing an additional 30,048 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 1.3%

Shares of NASDAQ LYFT opened at $14.20 on Friday. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The firm has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $14.77. The company has a market cap of $5.39 billion, a P/E ratio of 2.07, a PEG ratio of 0.84 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. Research analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on LYFT. Sanford C. Bernstein started coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. William Blair downgraded Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Roth Capital restated a “buy” rating and issued a $23.00 price target on shares of Lyft in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.40.

Insiders Place Their Bets

In related news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the completion of the transaction, the chief financial officer owned 705,979 shares in the company, valued at $9,594,254.61. The trade was a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the completion of the transaction, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock valued at $637,456 over the last quarter. 0.92% of the stock is currently owned by insiders.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.