Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Xponance Inc.

Posted by Defense World Staff on Oct 3rd, 2023

Xponance Inc. lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) by 16.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,379 shares of the ride-sharing company’s stock after acquiring an additional 6,237 shares during the period. Xponance Inc.’s holdings in Lyft were worth $426,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kistler Tiffany Companies LLC acquired a new stake in Lyft in the 1st quarter worth about $28,000. Signaturefd LLC boosted its stake in Lyft by 87.1% in the 1st quarter. Signaturefd LLC now owns 3,801 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 1,769 shares during the last quarter. CWM LLC boosted its stake in Lyft by 87.6% in the 1st quarter. CWM LLC now owns 4,762 shares of the ride-sharing company’s stock worth $44,000 after buying an additional 2,224 shares during the last quarter. S.A. Mason LLC acquired a new stake in Lyft in the 1st quarter worth about $46,000. Finally, Perfromance Wealth Partners LLC acquired a new stake in Lyft in the 1st quarter worth about $93,000. Institutional investors and hedge funds own 71.63% of the company’s stock.

Insider Activity

In other news, Director Dave Stephenson purchased 8,826 shares of the stock in a transaction dated 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 acquisition, the director now owns 39,941 shares of the company’s stock, valued at $452,531.53. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Dave Stephenson acquired 8,826 shares of Lyft stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $11.33 per share, for a total transaction of $99,998.58. Following the transaction, the director now directly owns 39,941 shares of the company’s stock, valued at approximately $452,531.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John David Risher acquired 100,000 shares of Lyft stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $11.46 per share, with a total value of $1,146,000.00. Following the transaction, the chief executive officer now directly owns 12,375,185 shares in the company, valued at $141,819,620.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 205,726 shares of company stock worth $2,247,945 and sold 43,733 shares worth $486,348. Company insiders own 3.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYFT. BTIG Research reissued a “neutral” rating on shares of Lyft in a research note on Tuesday, September 26th. Wedbush began coverage on Lyft in a research note on Tuesday, June 6th. They issued a “neutral” rating and a $10.00 price objective on the stock. DA Davidson lifted their price objective on Lyft from $9.75 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Truist Financial lifted their price objective on Lyft from $10.00 to $12.00 in a research note on Wednesday, August 9th. Finally, Jefferies Financial Group lifted their price objective on Lyft from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. Twenty-seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.78.

View Our Latest Research Report on Lyft

Lyft Price Performance

LYFT stock opened at $10.51 on Tuesday. Lyft, Inc. has a 52-week low of $7.85 and a 52-week high of $18.36. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.06 billion, a PE ratio of -2.91 and a beta of 1.77. The stock’s 50 day moving average is $11.16 and its two-hundred day moving average is $10.32.

Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The ride-sharing company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.23. Lyft had a negative return on equity of 181.53% and a negative net margin of 30.87%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Analysts predict that Lyft, Inc. will post -1.03 earnings per share for the current fiscal year.

Lyft Profile

(Free Report)

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.

Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Xponance Inc.

Insider Activity

Analysts Set New Price Targets

Lyft Price Performance

Lyft Profile

Further Reading

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