Thu Sep 12 09:15:59 UTC 2024: ## ClariVest Asset Management Buys into Lyft, Institutional Investors Active

**New York, NY** – ClariVest Asset Management LLC made a significant investment in Lyft, Inc. (NASDAQ: LYFT) during the second quarter, purchasing 119,072 shares valued at approximately $1,679,000. This move follows a period of activity from other institutional investors, highlighting continued interest in the ride-sharing company.

FinTrust Capital Advisors LLC substantially increased its stake in Lyft during the first quarter, while Kapitalo Investimentos Ltda and International Assets Investment Management LLC both acquired new positions in the fourth and second quarters, respectively. C M Bidwell & Associates Ltd. and Allspring Global Investments Holdings LLC also purchased new positions in the fourth and first quarters, respectively. Overall, hedge funds and institutional investors now control 83.07% of Lyft’s outstanding shares.

Lyft’s stock opened at $11.95 on Thursday, with a market cap of $4.90 billion. The company’s P/E ratio is -25.42, and its beta is 2.04.

**Insider Trading**

Director John Patrick Zimmer sold 7,188 shares of Lyft stock on August 20th at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, Zimmer now owns 932,062 shares valued at approximately $10,625,506.80.

On August 27th, Director Logan Green sold 10,323 shares of the stock at an average price of $11.62, for a total of $119,953.26. Green currently holds 330,790 shares in the company, valued at $3,843,779.80.

Over the past three months, insiders have sold a total of 32,497 shares, valued at $392,157. Corporate insiders own 3.07% of the company’s stock.

**Analyst Sentiment**

Analysts have mixed opinions on Lyft. Canaccord Genuity Group lowered their target price on Lyft from $23.00 to $18.00 while maintaining a “buy” rating. Cantor Fitzgerald initiated coverage on Lyft with a “neutral” rating and a $13.00 target price. Morgan Stanley and The Goldman Sachs Group raised their target prices on Lyft, while Truist Financial reduced its target price.

Twenty-six investment analysts have rated Lyft with a hold rating, nine have given a buy rating, and one has issued a strong buy rating. Lyft currently has an average rating of “Hold” and a consensus price target of $15.65.

Lyft operates a peer-to-peer ride-sharing platform in the United States and Canada, offering a variety of transportation options through its mobile app. The company’s platform includes a ridesharing marketplace, car rental program, and shared bikes and scooters.

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