Ardmore Road Asset Management LP Invests $3.99 Million in Lyft, Inc. $LYFT

Ardmore Road Asset Management LP acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 300,322 shares of the ride-sharing company's stock, valued at approximately $3,994,000. Ardmore Road Asset Management LP owned 0.08% of Lyft at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. acquired a new position in Lyft in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Lyft during the fourth quarter valued at about $40,000. Huntington National Bank boosted its position in shares of Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 1,374 shares in the last quarter. Boreal Capital Management LLC bought a new position in shares of Lyft during the 1st quarter worth about $31,000. Finally, Bessemer Group Inc. grew its stake in shares of Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after buying an additional 2,500 shares during the period. Institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

LYFT stock opened at $14.20 on Monday. The firm has a market cap of $5.39 billion, a PE ratio of 2.07, a P/E/G ratio of 0.84 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $14.46 and a 200-day moving average of $14.74. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business's revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, sell-side analysts expect that Lyft, Inc. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of research reports. Roth Capital reissued a "buy" rating and issued a $23.00 price objective on shares of Lyft in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Lyft from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Jefferies Financial Group raised their price target on shares of Lyft from $15.00 to $15.50 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lyft in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their price objective on Lyft from $16.00 to $15.00 and set a "hold" rating for the company in a report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.40.

Insider Activity at Lyft

In related news, CAO Stephen W. Hope sold 5,460 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the transaction, the chief accounting officer owned 335,463 shares in the company, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director owned 30,092 shares of the company's stock, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,535 shares of company stock worth $637,456 in the last ninety days. Corporate insiders own 0.92% of the company's stock.

Lyft Company Profile

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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