Venturi Wealth Management LLC Has $784,000 Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Venturi Wealth Management LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,808 shares of the ride-sharing company’s stock after purchasing an additional 4,660 shares during the quarter. Venturi Wealth Management LLC’s holdings in Lyft were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LYFT. Sanctuary Advisors LLC boosted its stake in shares of Lyft by 34.0% in the 4th quarter. Sanctuary Advisors LLC now owns 38,117 shares of the ride-sharing company’s stock valued at $517,000 after purchasing an additional 9,663 shares during the last quarter. Allworth Financial LP grew its holdings in Lyft by 25.9% during the fourth quarter. Allworth Financial LP now owns 9,171 shares of the ride-sharing company’s stock valued at $123,000 after purchasing an additional 1,889 shares during the period. Manchester Capital Management LLC grew its holdings in Lyft by 13.8% during the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 1,080 shares during the period. Van ECK Associates Corp grew its holdings in Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock valued at $5,146,000 after purchasing an additional 49,138 shares during the period. Finally, Summit Trail Advisors LLC grew its holdings in Lyft by 4.5% during the fourth quarter. Summit Trail Advisors LLC now owns 27,249 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 1,182 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research reports. Roth Mkm lifted their price target 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. Tigress Financial boosted their price objective on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. DA Davidson dropped their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets dropped their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Loop Capital upped their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Twenty-six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.22.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares of the company’s stock, 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 at this hyperlink. 3.07% of the stock is currently owned by company insiders.

Lyft Trading Up 4.3 %

Shares of NASDAQ:LYFT opened at $14.01 on Wednesday. The company has a market cap of $5.81 billion, a P/E ratio of -87.56, a PEG ratio of 1.94 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The stock’s fifty day moving average price is $13.77 and its 200-day moving average price is $13.57.

Lyft (NASDAQ:LYFT) last released 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 net margin of 1.19% and a negative return on equity of 1.58%. Sell-side analysts expect that Lyft, Inc. will post 0.06 earnings per share for the current year.

Lyft declared that its Board of Directors has approved a share repurchase 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 reacquire up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Lyft 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.