130,284 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Paragon Capital Management Inc.

Paragon Capital Management Inc. purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 130,284 shares of the ride-sharing company’s stock, valued at approximately $1,681,000. Lyft comprises approximately 1.3% of Paragon Capital Management Inc.’s holdings, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Lyft in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in Lyft in the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Lyft in the 3rd quarter valued at approximately $38,000. Sunbelt Securities Inc. purchased a new stake in Lyft in the 3rd quarter valued at approximately $70,000. Finally, Allworth Financial LP boosted its holdings in Lyft by 34.1% in the 3rd quarter. Allworth Financial LP now owns 7,282 shares of the ride-sharing company’s stock valued at $93,000 after purchasing an additional 1,852 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the topic of a number of analyst reports. Truist Financial lifted their price objective on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Barclays boosted their price target on Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Tigress Financial boosted their price target on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald boosted their price target on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.78.

Insider Activity at Lyft

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,242 shares of company stock worth $427,330. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Up 1.9 %

Shares of LYFT opened at $14.07 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $14.37 and its 200 day simple moving average is $13.45. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities research analysts expect that Lyft, Inc. will post 0.06 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.