Lyft, Inc. $LYFT Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Lyft by 306.0%, owning a total of 416,572 shares valued at approximately $4.95 million.
• Institutional investors now hold 83.07% of Lyft's stock, with notable increases from firms like Price T Rowe Associates and Dimensional Fund Advisors.
• Lyft's recent quarterly earnings showed a net margin of 1.51% and revenue growth of 10.6%% year-over-year, but it missed EPS estimates by $0.17.

American Century Companies Inc. increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 306.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,572 shares of the ride-sharing company's stock after acquiring an additional 313,958 shares during the quarter. American Century Companies Inc. owned about 0.10% of Lyft worth $4,945,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. raised its holdings in shares of Lyft by 15.2% in the first quarter. Fox Run Management L.L.C. now owns 70,926 shares of the ride-sharing company's stock worth $842,000 after buying an additional 9,348 shares during the last quarter. Waypoint Wealth Partners Inc. purchased a new stake in Lyft in the 1st quarter worth approximately $270,000. Neuberger Berman Group LLC grew its position in Lyft by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock valued at $290,000 after buying an additional 868 shares during the period. Boston Partners grew its position in shares of Lyft by 4.0% during the 1st quarter. Boston Partners now owns 50,903 shares of the ride-sharing company's stock valued at $604,000 after acquiring an additional 1,970 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Lyft by 10.6% in the first quarter. HighTower Advisors LLC now owns 48,202 shares of the ride-sharing company's stock valued at $572,000 after buying an additional 4,605 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LYFT shares. Sanford C. Bernstein boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Oppenheimer cut their price objective on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. 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 report on Friday, May 9th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a report on Friday, May 9th. Finally, Susquehanna decreased their target price on Lyft from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $16.83.

Lyft Stock Performance

LYFT stock traded up $0.17 on Wednesday, hitting $16.97. The company's stock had a trading volume of 40,430,550 shares, compared to its average volume of 18,243,244. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.07. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 70.90, a price-to-earnings-growth ratio of 2.65 and a beta of 2.33. The firm has a 50 day moving average of $15.21 and a two-hundred day moving average of $13.98. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

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). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the business earned $0.24 EPS. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer directly owned 540,759 shares of the company's stock, valued at $8,241,167.16. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,821 shares of company stock worth $701,966. Insiders own 3.07% of the company's stock.

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.