Pallas Capital Advisors LLC Has $402,000 Stake in Lyft, Inc. (NASDAQ:LYFT)

Pallas Capital Advisors LLC boosted its holdings in Lyft, Inc. (NASDAQ:LYFTFree Report) by 42.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,181 shares of the ride-sharing company’s stock after purchasing an additional 9,342 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lyft were worth $402,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Lyft by 59.6% in the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after buying an additional 142,880 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lyft in the 2nd quarter worth about $388,000. New York State Teachers Retirement System bought a new position in Lyft in the 3rd quarter valued at about $423,000. Susquehanna Fundamental Investments LLC acquired a new position in Lyft during the 2nd quarter valued at about $3,349,000. Finally, Venturi Wealth Management LLC bought a new stake in Lyft during the 3rd quarter worth approximately $716,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Raymond James began coverage on shares of Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, January 6th. Finally, Loop Capital boosted their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.78.

Get Our Latest Analysis on Lyft

Lyft Stock Down 0.2 %

Shares of NASDAQ LYFT opened at $12.97 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.38 billion, a P/E ratio of -81.06, a P/E/G ratio of 4.10 and a beta of 2.14. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The business has a 50-day simple moving average of $15.40 and a two-hundred day simple moving average of $13.41.

Lyft (NASDAQ:LYFTGet Free Report) last released 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 company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned ($0.02) earnings per share. Lyft’s revenue was up 31.6% compared to the same quarter last year. Research analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This represents 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 valued at $427,330. 3.07% of the stock is currently owned by company insiders.

About Lyft

(Free Report)

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.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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