Summit Trail Advisors LLC Purchases 1,182 Shares of Lyft, Inc. (NASDAQ:LYFT)

Summit Trail Advisors LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,249 shares of the ride-sharing company’s stock after buying an additional 1,182 shares during the period. Summit Trail Advisors LLC’s holdings in Lyft were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Lyft during the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lyft during the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new stake in Lyft in the fourth quarter worth approximately $31,000. Byrne Asset Management LLC bought a new stake in Lyft in the fourth quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Lyft during the 3rd quarter worth approximately $38,000. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the subject of several research analyst reports. Roth Mkm lifted their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson decreased their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Barclays cut their price target on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday. Twenty-seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.31.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the 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 completion of the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Performance

NASDAQ LYFT opened at $13.25 on Thursday. The company has a market capitalization of $5.50 billion, a PE ratio of -82.81, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a 50-day simple moving average of $14.00 and a 200 day simple moving average of $13.52.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. On average, research analysts predict that Lyft, Inc. will post 0.06 EPS for the current year.

Lyft declared that its board has approved a stock buyback program on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.