Toronto Dominion Bank increased its holdings in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 362,951 shares of the ride-sharing company’s stock after acquiring an additional 37,274 shares during the quarter. Toronto Dominion Bank owned approximately 0.10% of Lyft worth $3,363,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Kistler Tiffany Companies LLC acquired a new position in shares of Lyft in the first quarter worth about $28,000. Signaturefd LLC increased its holdings in Lyft by 87.1% in the first quarter. Signaturefd LLC now owns 3,801 shares of the ride-sharing company’s stock valued at $35,000 after buying an additional 1,769 shares during the last quarter. CWM LLC increased its holdings in Lyft by 87.6% in the first quarter. CWM LLC now owns 4,762 shares of the ride-sharing company’s stock valued at $44,000 after buying an additional 2,224 shares during the last quarter. S.A. Mason LLC bought a new stake in Lyft in the first quarter valued at about $46,000. Finally, Panagora Asset Management Inc. bought a new stake in Lyft in the first quarter valued at about $206,000. Institutional investors and hedge funds own 71.63% of the company’s stock.
Insider Transactions at Lyft
In other news, Director Dave Stephenson acquired 8,826 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $11.33 per share, for a total transaction of $99,998.58. Following the completion of the acquisition, the director now owns 39,941 shares in the company, valued at $452,531.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John David Risher acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $11.46 per share, for a total transaction of $1,146,000.00. Following the completion of the acquisition, the chief executive officer now owns 12,375,185 shares in the company, valued at $141,819,620.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dave Stephenson bought 8,826 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $11.33 per share, for a total transaction of $99,998.58. Following the completion of the acquisition, the director now owns 39,941 shares of the company’s stock, valued at $452,531.53. The disclosure for this purchase can be found here. Insiders acquired a total of 205,726 shares of company stock valued at $2,247,945 over the last quarter. Company insiders own 3.16% of the company’s stock.
Lyft Stock Performance
Lyft (NASDAQ:LYFT – Get Free Report) last issued its earnings results on Tuesday, August 8th. The ride-sharing company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.23. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Lyft had a negative return on equity of 181.53% and a negative net margin of 30.87%. On average, sell-side analysts anticipate that Lyft, Inc. will post -1.03 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Wedbush assumed coverage on Lyft in a report on Tuesday, June 6th. They issued a “neutral” rating and a $10.00 price objective for the company. Susquehanna boosted their price objective on Lyft from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Truist Financial upped their target price on Lyft from $10.00 to $12.00 in a report on Wednesday, August 9th. Credit Suisse Group decreased their price objective on Lyft from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Finally, Barclays increased their price objective on Lyft from $10.00 to $13.00 in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Lyft currently has an average rating of “Hold” and an average target price of $13.78.
Read Our Latest Research Report on LYFT
Lyft Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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