Blair William & Co. IL bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,243 shares of the ride-sharing company's stock, valued at approximately $537,000.
A number of other large investors have also recently modified their holdings of LYFT. Two Sigma Advisers LP raised its holdings in Lyft by 828.5% in the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock worth $85,947,000 after buying an additional 5,945,000 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Lyft by 156.9% during the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock valued at $103,524,000 after purchasing an additional 4,901,358 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Lyft by 2,553.0% during the first quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock valued at $30,950,000 after purchasing an additional 2,509,118 shares during the last quarter. Capital World Investors raised its holdings in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after purchasing an additional 2,240,478 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Lyft by 274.6% during the fourth quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company's stock valued at $38,175,000 after purchasing an additional 2,169,255 shares during the last quarter. Institutional investors own 83.07% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on LYFT shares. Citigroup reissued a "hold" rating and set a $14.00 price objective (down from $22.00) on shares of Lyft in a report on Friday, June 27th. JPMorgan Chase & Co. upped their target price on shares of Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Oppenheimer reduced their target price on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Susquehanna reaffirmed a "neutral" rating and set a $14.00 target price (down from $18.00) on shares of Lyft in a report on Monday. Finally, Tigress Financial reaffirmed a "buy" rating and set a $28.00 target price (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and a consensus price target of $16.70.
Check Out Our Latest Stock Analysis on Lyft
Lyft Stock Up 0.2%
Lyft stock traded up $0.03 during mid-day trading on Thursday, hitting $14.61. The company had a trading volume of 10,913,332 shares, compared to its average volume of 18,015,568. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 3.03 and a beta of 2.26. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.07. The business has a fifty day moving average of $14.95 and a 200 day moving average of $13.75. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.
Lyft (NASDAQ:LYFT - Get Free Report) last posted 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Lyft's revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Lyft news, Director Jill Beggs sold 1,572 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the transaction, the director owned 20,467 shares in the company, valued at approximately $335,863.47. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the transaction, the director owned 879,498 shares of the company's stock, valued at $13,896,068.40. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.07% of the company's stock.
Lyft Company Profile
(
Free Report)
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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