111 Capital Purchases Shares of 20,760 Lyft, Inc. (NASDAQ:LYFT)

111 Capital purchased a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 20,760 shares of the ride-sharing company's stock, valued at approximately $268,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Lyft by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after purchasing an additional 984,907 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Lyft by 15.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock valued at $120,463,000 after acquiring an additional 1,224,056 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lyft by 282.0% in 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. Two Sigma Investments LP grew its position in shares of Lyft by 156.9% in the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock valued at $103,524,000 after acquiring an additional 4,901,358 shares during the period. Finally, Capital World Investors increased its stake in shares of Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after purchasing an additional 2,240,478 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Activity

In related news, 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 transaction of $283,063.20. Following the transaction, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the transaction, the director now owns 879,498 shares in the company, valued at approximately $13,896,068.40. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,732 shares of company stock worth $347,159 over the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Down 0.6%

NASDAQ:LYFT traded down $0.09 during trading hours on Wednesday, reaching $15.26. The company had a trading volume of 10,126,239 shares, compared to its average volume of 16,377,361. The business's 50-day simple moving average is $13.36 and its two-hundred day simple moving average is $13.69. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 254.33, a P/E/G ratio of 1.90 and a beta of 2.14. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. On average, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Analyst Ratings Changes

A number of research firms recently weighed in on LYFT. JPMorgan Chase & Co. increased their price target on Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of Lyft in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. DA Davidson restated a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.63.

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.