Dynamic Technology Lab Private Ltd Sells 189,686 Shares of Lyft, Inc. (NASDAQ:LYFT)

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 82.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,356 shares of the ride-sharing company’s stock after selling 189,686 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Lyft were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after acquiring an additional 1,457 shares during the last quarter. Comerica Bank boosted its stake in shares of Lyft by 310.3% in the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after purchasing an additional 77,578 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Lyft in the 2nd quarter valued at $388,000. New York State Teachers Retirement System bought a new stake in shares of Lyft in the 3rd quarter valued at $423,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Lyft in the 2nd quarter valued at $3,349,000. 83.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on LYFT shares. Tigress Financial upped their price objective on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft 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. 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. Finally, Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.55.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now directly owns 760,089 shares of the company’s stock, valued at approximately $9,121,068. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,990 shares of company stock valued at $317,333 over the last 90 days. Insiders own 3.07% of the company’s stock.

Lyft Stock Up 1.0 %

Shares of NASDAQ LYFT opened at $17.36 on Friday. 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 cap of $7.20 billion, a P/E ratio of -108.50, a PEG ratio of 4.98 and a beta of 2.04. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $13.61.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. Research analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current 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.