322,834 Shares in Lyft, Inc. $LYFT Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC acquired 322,834 shares in Lyft during the first quarter, valued at about $3.83 million, increasing institutional ownership to 83.07% of the company's stock.
• Lyft's recent quarterly earnings showed $0.10 earnings per share versus a consensus estimate of $0.27, with revenue of $1.59 billion, reflecting a 10.6% year-over-year increase.
• Analyst ratings on Lyft are mixed, with targets ranging from $11.00 to $21.00, and a consensus average price target of $17.07 as various firms adjust their positions in light of recent performance.

Acadian Asset Management LLC bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 322,834 shares of the ride-sharing company's stock, valued at approximately $3,828,000. Acadian Asset Management LLC owned approximately 0.08% of Lyft at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LYFT. Spurstone Advisory Services LLC purchased a new position in Lyft during the fourth quarter worth about $25,000. GAMMA Investing LLC increased its holdings in Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after purchasing an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lyft in the 1st quarter worth approximately $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Lyft during the 1st quarter valued at approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Lyft by 79.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,769 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Stock Performance

LYFT opened at $18.62 on Monday. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 77.59, a P/E/G ratio of 2.91 and a beta of 2.33. The business's 50-day moving average price is $15.52 and its two-hundred day moving average price is $14.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.35.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $0.24 EPS. Lyft's revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other Lyft news, CEO John David Risher purchased 5,926 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the sale, the chief financial officer owned 525,759 shares of the company's stock, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,821 shares of company stock worth $960,566. Corporate insiders own 3.07% of the company's stock.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Thursday, August 7th. UBS Group lifted their price target on Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research report on Thursday, June 5th. Finally, Morgan Stanley upped their price target on Lyft from $19.00 to $20.50 and gave the company an "equal weight" rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lyft currently has an average rating of "Hold" and a consensus target price of $17.07.

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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