Banco Bilbao Vizcaya Argentaria S.A. Trims Stake in Lyft, Inc. (NASDAQ:LYFT)

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 44.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,402 shares of the ride-sharing company's stock after selling 58,519 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Lyft were worth $970,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Van ECK Associates Corp boosted its position in Lyft by 14.0% in 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 last quarter. Pacer Advisors Inc. grew its position in Lyft by 32.4% during 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 buying an additional 2,302,248 shares during the period. Paragon Capital Management Inc. purchased a new stake in Lyft during the fourth quarter worth about $1,681,000. Renaissance Technologies LLC raised its position in Lyft by 282.0% in 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 period. Finally, Federated Hermes Inc. raised its position in Lyft by 1,957.5% in 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 period. 83.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 11,411 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. The trade was a 3.69 % 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, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 in the last quarter. Company insiders own 3.07% of the company's stock.

Lyft Trading Up 1.5 %

Shares of LYFT traded up $0.19 during trading hours on Friday, hitting $12.65. The company had a trading volume of 9,104,327 shares, compared to its average volume of 15,514,657. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average price is $11.76 and its 200 day moving average price is $13.60. The firm has a market cap of $5.29 billion, a P/E ratio of 210.83, a P/E/G ratio of 1.90 and a beta of 2.13.

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

Lyft announced that its board has approved a stock buyback program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush decreased their price target on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. UBS Group dropped their price target on Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Susquehanna decreased their price objective on Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Loop Capital lowered their price target on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their target price on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.45.

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.