Nuveen LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,623,653 shares of the ride-sharing company's stock, valued at approximately $31,143,000. Nuveen LLC owned 0.63% of Lyft as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC purchased a new stake in Lyft in the fourth quarter worth $25,000. GAMMA Investing LLC lifted its stake in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after acquiring an additional 1,237 shares during the period. FNY Investment Advisers LLC purchased a new stake in Lyft in the first quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Lyft in the first quarter worth $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Lyft in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.07% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on LYFT. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price target (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Citigroup reiterated a "hold" rating and issued a $14.00 price objective (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Oppenheimer decreased their price objective on Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. BMO Capital Markets reiterated a "market perform" rating and issued a $16.00 price objective (up previously from $15.00) on shares of Lyft in a report on Thursday, August 7th. Finally, Sanford C. Bernstein increased their price objective on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.70.
Read Our Latest Stock Report on LYFT
Insider Buying and Selling at Lyft
In other news, CEO John David Risher purchased 6,538 shares of the business's stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director owned 879,498 shares of the company's stock, valued at approximately $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. Corporate insiders own 3.07% of the company's stock.
Lyft Stock Performance
Shares of NASDAQ LYFT opened at $15.82 on Friday. The firm's 50-day moving average price is $14.94 and its 200-day moving average price is $13.77. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a market cap of $6.61 billion, a PE ratio of 65.92, a PEG ratio of 2.58 and a beta of 2.26. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07.
Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.
Lyft Profile
(
Free Report)
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.
Further Reading
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