Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC increased its stake in Lyft by 65.8%, owning a total of 73,804 shares valued at approximately $876,000 as of the latest SEC filing.
• Several institutional investors have also shown increased interest in Lyft, with notable increases including Federated Hermes Inc. raising its stake by 438.7%.
• Lyft reported earnings of $0.01 EPS for the last quarter, missing expectations, with revenues of $1.45 billion, compared to analysts' expectations of $1.47 billion.

Blueshift Asset Management LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 65.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,804 shares of the ride-sharing company's stock after buying an additional 29,287 shares during the quarter. Blueshift Asset Management LLC's holdings in Lyft were worth $876,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LYFT. Renaissance Technologies LLC increased its holdings in shares of Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after buying an additional 6,365,727 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Lyft by 828.5% during the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock worth $85,947,000 after purchasing an additional 5,945,000 shares during the period. Two Sigma Investments LP increased its position in shares of Lyft by 156.9% during the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock worth $103,524,000 after purchasing an additional 4,901,358 shares during the last quarter. Norges Bank acquired a new stake in shares of Lyft during the 4th quarter worth about $49,599,000. Finally, Capital World Investors raised its holdings in Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after buying an additional 2,240,478 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Down 3.1%

Shares of NASDAQ:LYFT traded down $0.44 on Friday, hitting $13.62. 17,504,263 shares of the company's stock were exchanged, compared to its average volume of 12,894,624. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. The company has a market capitalization of $5.69 billion, a PE ratio of 90.80, a P/E/G ratio of 2.67 and a beta of 2.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. The firm's 50-day moving average is $15.20 and its 200 day moving average is $13.73.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on LYFT. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 target price (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Needham & Company LLC restated a "hold" rating on shares of Lyft in a report on Friday, May 9th. Morgan Stanley lowered their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company boosted their target price on Lyft from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Citigroup restated a "hold" rating and set a $14.00 price target (down from $22.00) on shares of Lyft in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.98.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 1,572 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the transaction, the director directly owned 20,467 shares of the company's stock, valued at $335,863.47. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John David Risher acquired 6,538 shares of the company's stock in a transaction on Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the acquisition, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.07% of the company's stock.

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.