Algert Global LLC Has $5.25 Million Position in Lyft, Inc. (NASDAQ:LYFT)

Algert Global LLC boosted its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 54.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,006 shares of the ride-sharing company's stock after acquiring an additional 143,497 shares during the quarter. Algert Global LLC owned about 0.10% of Lyft worth $5,250,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new position in shares of Lyft in the fourth quarter valued at $22,186,000. Mercer Global Advisors Inc. ADV boosted its holdings in Lyft by 90.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,544 shares of the ride-sharing company's stock valued at $368,000 after purchasing an additional 13,528 shares during the last quarter. Westerly Capital Management LLC grew its stake in Lyft by 50.0% during the 4th quarter. Westerly Capital Management LLC now owns 375,000 shares of the ride-sharing company's stock valued at $4,838,000 after purchasing an additional 125,000 shares in the last quarter. PDT Partners LLC purchased a new stake in Lyft during the 4th quarter worth approximately $4,309,000. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Lyft by 194.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 502,563 shares of the ride-sharing company's stock valued at $6,483,000 after buying an additional 331,792 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYFT. Cantor Fitzgerald dropped their price target on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Friday. DA Davidson reaffirmed a "neutral" rating and set a $15.00 price target on shares of Lyft in a research report on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Friday. Finally, UBS Group upped their price objective on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lyft presently has an average rating of "Hold" and an average target price of $16.47.

Lyft Stock Up 28.0 %

Shares of LYFT stock traded up $3.64 on Friday, hitting $16.64. The company's stock had a trading volume of 107,237,708 shares, compared to its average volume of 15,813,638. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 277.33, a P/E/G ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The firm's fifty day moving average price is $11.75 and its 200-day moving average price is $13.57.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $0.15 EPS. The business's revenue was up 13.5% on a year-over-year basis. Research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has authorized a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the transaction, the insider now owns 959,697 shares in the company, valued at $11,948,227.65. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock worth $486,841 in the last quarter. 3.07% of the stock is currently owned by company insiders.

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.