Dimensional Fund Advisors LP Increases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Dimensional Fund Advisors LP increased its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 112.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,363,978 shares of the ride-sharing company's stock after buying an additional 1,250,967 shares during the quarter. Dimensional Fund Advisors LP owned about 0.57% of Lyft worth $30,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Lyft by 14.0% in the 4th 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. increased its position in Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in Lyft in the fourth quarter valued at approximately $1,681,000. Renaissance Technologies LLC lifted its position 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 valued at $111,240,000 after buying an additional 6,365,727 shares in the last quarter. Finally, Federated Hermes Inc. grew 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 buying an additional 274,789 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares of the company's stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,143 shares of company stock worth $486,841. Company insiders own 3.07% of the company's stock.

Lyft Stock Performance

LYFT stock opened at $13.20 on Tuesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 220.00, a PEG ratio of 1.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The stock's fifty day moving average is $11.76 and its two-hundred day moving average is $13.59.

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

Lyft declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on LYFT shares. Cantor Fitzgerald decreased their price target on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Benchmark raised Lyft from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Monday, January 6th. Citigroup reiterated an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. Loop Capital decreased their price target on Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, DA Davidson reiterated a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. One research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.45.

Lyft Company 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.

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