AXQ Capital LP Has $1.76 Million Position in Lyft, Inc. $LYFT

Key Points

• AXQ Capital LP sharply increased its Lyft stake by 402.3% in the fourth quarter, ending with 90,817 shares valued at about $1.76 million.
• Lyft reported Q1 earnings of $0.04 per share, missing estimates, while revenue came in at $1.65 billion, slightly ahead of expectations and up 17.2% year over year.
• The company has an authorized $1 billion share repurchase program, and Wall Street’s consensus view remains “Hold” with an average price target of $18.83.

AXQ Capital LP grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 402.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,817 shares of the ride-sharing company's stock after acquiring an additional 72,738 shares during the period. AXQ Capital LP's holdings in Lyft were worth $1,759,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in shares of Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company's stock valued at $75,000 after buying an additional 639 shares during the period. CI Investments Inc. grew its stake in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company's stock valued at $51,000 after buying an additional 653 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Lyft by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company's stock valued at $248,000 after buying an additional 681 shares during the period. Allegiance Financial Group Advisory Services LLC grew its stake in shares of Lyft by 4.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company's stock valued at $352,000 after buying an additional 756 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Lyft by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company's stock valued at $3,684,000 after buying an additional 771 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 5.3%

NASDAQ:LYFT opened at $14.86 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.64 billion, a PE ratio of 2.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.82. The firm's 50 day moving average is $13.77 and its 200 day moving average is $16.38. 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 released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm's quarterly revenue was up 17.2% on a year-over-year basis. Sell-side analysts expect that Lyft, Inc. will post 0.66 earnings per share for the current year.

Lyft announced that its board has authorized a stock repurchase program on Tuesday, February 10th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LYFT shares. Cantor Fitzgerald cut their price target on Lyft from $21.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 11th. Morgan Stanley set a $17.00 price target on Lyft in a research note on Wednesday, February 11th. Truist Financial lifted their price target on Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Friday, May 8th. DA Davidson cut their price target on Lyft from $19.00 to $14.50 and set a "neutral" rating for the company in a research note on Monday, May 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a research note on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.83.

Insider Activity

In other news, Director Jill Beggs sold 2,093 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares in the company, valued at $414,065.92. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was 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 of the company's stock, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. 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 sold 42,705 shares of company stock worth $616,156 in the last three months. Corporate insiders own 0.92% of the company's stock.

About Lyft

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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