Main Management ETF Advisors LLC Purchases Shares of 69,064 Lyft, Inc. (NASDAQ:LYFT)

Main Management ETF Advisors LLC bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, Holdings Channel.com reports. The firm bought 69,064 shares of the ride-sharing company’s stock, valued at approximately $881,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after acquiring an additional 1,457 shares in the last quarter. Comerica Bank lifted its holdings in shares of Lyft by 310.3% during the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after acquiring an additional 77,578 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Lyft during the 2nd quarter valued at $388,000. New York State Teachers Retirement System acquired a new position in shares of Lyft during the 3rd quarter valued at $423,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Lyft during the 2nd quarter valued at $3,349,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on LYFT shares. BMO Capital Markets lifted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Roth Mkm lifted their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital lifted their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Tigress Financial lifted their price target on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.77.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 10,919 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,909 shares of company stock valued at $505,686 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

NASDAQ LYFT opened at $15.94 on Friday. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a 50-day simple moving average of $14.98 and a 200-day simple moving average of $13.60. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. Equities analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current year.

About Lyft

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.