Tiedemann Advisors LLC purchased a new position in shares of LYFT Inc (NASDAQ:LYFT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,402 shares of the ride-sharing company’s stock, valued at approximately $221,000.
Other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its holdings in shares of LYFT by 37.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,097 shares of the ride-sharing company’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. L & S Advisors Inc boosted its holdings in shares of LYFT by 2.4% during the 2nd quarter. L & S Advisors Inc now owns 13,308 shares of the ride-sharing company’s stock valued at $874,000 after acquiring an additional 313 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of LYFT by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 27,750 shares of the ride-sharing company’s stock valued at $1,133,000 after acquiring an additional 345 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of LYFT during the 1st quarter valued at $39,000. Finally, RPG Investment Advisory LLC boosted its holdings in shares of LYFT by 500.0% during the 2nd quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. 34.92% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on LYFT shares. Morgan Stanley started coverage on LYFT in a report on Thursday, October 24th. They set an “equal weight” rating and a $50.00 price objective on the stock. SunTrust Banks raised their price objective on LYFT to $75.00 and gave the company a “positive” rating in a report on Thursday, August 8th. Piper Jaffray Companies raised their price objective on LYFT from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. KeyCorp reissued a “hold” rating on shares of LYFT in a report on Tuesday, October 15th. Finally, Atlantic Securities raised LYFT from an “underweight” rating to a “neutral” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $69.11.
LYFT (NASDAQ:LYFT) last issued its earnings results on Wednesday, October 30th. The ride-sharing company reported ($1.57) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.66) by $0.09. The firm had revenue of $955.60 million during the quarter, compared to analyst estimates of $915.15 million. The business’s revenue was up 63.4% on a year-over-year basis. As a group, equities research analysts expect that LYFT Inc will post -10.59 earnings per share for the current year.
In other LYFT news, General Counsel Kristin Sverchek sold 6,000 shares of LYFT stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $47.97, for a total transaction of $287,820.00. Following the completion of the transaction, the general counsel now owns 206,969 shares in the company, valued at approximately $9,928,302.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ran I. Makavy sold 70,000 shares of LYFT stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $52.11, for a total value of $3,647,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,000 shares of company stock valued at $8,364,920.
LYFT Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
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