Toronto Dominion Bank Invests $279,000 in Lyft, Inc. (NASDAQ:LYFT)

Toronto Dominion Bank acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,660 shares of the ride-sharing company's stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in Lyft by 3.8% during the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock valued at $316,000 after buying an additional 903 shares in the last quarter. Guggenheim Capital LLC grew its position in Lyft by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after purchasing an additional 970 shares during the last quarter. US Bancorp DE increased its stake in Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after purchasing an additional 1,045 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock worth $115,000 after buying an additional 1,080 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Price Performance

Shares of Lyft stock traded down $0.70 during trading hours on Thursday, hitting $15.29. The company's stock had a trading volume of 14,100,629 shares, compared to its average volume of 16,288,298. The company has a market cap of $6.39 billion, a PE ratio of 254.58, 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 business has a 50 day moving average price of $13.04 and a two-hundred day moving average price of $13.79. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business posted $0.15 EPS. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now directly owns 959,697 shares of the company's stock, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the 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 transaction, the director now owns 879,498 shares of the company's stock, valued at $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent analyst reports. Evercore ISI cut their price target on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a report on Wednesday, February 12th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 9th. Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price target for the company. in a research note on Thursday, April 3rd. JPMorgan Chase & Co. upped their price target on Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Roth Capital reiterated a "neutral" rating on shares of Lyft in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.63.

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.