Allianz Asset Management GmbH Has $19.43 Million Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Lyft, owning 1,233,107 shares valued at approximately $19.43 million after a 2,586.5% increase in the second quarter.
• Lyft's average target price among analysts is $19.12, with a consensus rating of "Hold," reflecting varied investor sentiments regarding the stock's future performance.
• Insider activity saw Lindsay Catherine Llewellyn sell 28,356 shares at an average price of $15.85, representing a 3.23% decrease in her holdings, while CEO John David Risher bought 5,926 shares, increasing his stake slightly.

Allianz Asset Management GmbH raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 2,586.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,233,107 shares of the ride-sharing company's stock after buying an additional 1,187,207 shares during the quarter. Allianz Asset Management GmbH owned 0.29% of Lyft worth $19,434,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its position in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock worth $31,000 after acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Lyft in the second quarter worth approximately $32,000. GAMMA Investing LLC grew its position 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft in the first quarter worth approximately $35,000. Finally, SRH Advisors LLC bought a new stake in Lyft in the second quarter worth approximately $62,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Ratings Changes

LYFT has been the subject of several recent research reports. Bank of America boosted their target price on shares of Lyft from $12.00 to $14.00 and gave the stock an "underperform" rating in a research report on Thursday, September 18th. Jefferies Financial Group boosted their target price on shares of Lyft from $15.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, September 18th. Morgan Stanley boosted their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Oppenheimer upped their price objective on shares of Lyft from $17.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Finally, Mizuho began coverage on shares of Lyft in a report on Tuesday, September 30th. They set a "neutral" rating and a $24.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.12.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher bought 5,926 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 in the last ninety days. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

NASDAQ LYFT opened at $19.53 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $18.85 and a 200 day simple moving average of $15.86. The company has a market cap of $7.94 billion, a P/E ratio of 81.38, a P/E/G ratio of 3.52 and a beta of 2.40. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50.

Lyft (NASDAQ:LYFT - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. Lyft's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.