Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 60.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,823,906 shares of the ride-sharing company's stock after acquiring an additional 1,825,761 shares during the period. AQR Capital Management LLC owned 1.16% of Lyft worth $62,228,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp raised its stake 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 worth $5,146,000 after purchasing an additional 49,138 shares during the period. Pacer Advisors Inc. boosted its holdings in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the last quarter. Paragon Capital Management Inc. purchased a new stake in Lyft during the fourth quarter valued at about $1,681,000. Renaissance Technologies LLC increased its stake in Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Lyft by 1,957.5% during the fourth quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after acquiring an additional 274,789 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYFT has been the subject of a number of research reports. Loop Capital decreased their target price on Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research report on Thursday, April 17th. UBS Group cut their target price on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Oppenheimer started coverage on Lyft in a report on Wednesday, April 16th. They issued an "outperform" rating and a $15.00 price target for the company. Finally, Truist Financial reduced their price objective on Lyft from $20.00 to $17.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lyft has an average rating of "Hold" and a consensus target price of $16.45.

Insider Activity

In related news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company's stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction on 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 directly owns 959,697 shares of the company's stock, valued at approximately $11,948,227.65. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,143 shares of company stock valued at $486,841. Company insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of Lyft stock traded up $0.55 during trading on Monday, hitting $13.20. 17,318,913 shares of the stock were exchanged, compared to its average volume of 15,530,416. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07. The stock's fifty day moving average is $11.76 and its 200 day moving average is $13.60. The stock has a market cap of $5.52 billion, a PE ratio of 220.00, a P/E/G ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. As a group, sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has approved a stock repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors 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.