Caisse DE Depot ET Placement DU Quebec Takes $705,000 Position in Lyft, Inc. $LYFT

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Lyft, Inc., purchasing 59,433 shares valued at approximately $705,000 during the first quarter.
• Insiders at Lyft have recently sold significant amounts of company stock, including Lindsay Catherine Llewellyn and CFO Erin Brewer, indicating a 3.23% and 2.70% decrease in their positions respectively.
• Following recent ratings from various analysts, Lyft received multiple upgrades with target prices ranging from $19.00 to $28.00, highlighting an overall consensus rating of "Hold" with an average target price of $16.83.

Caisse DE Depot ET Placement DU Quebec bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 59,433 shares of the ride-sharing company's stock, valued at approximately $705,000.

A number of other institutional investors have also modified their holdings of LYFT. Mariner LLC raised its stake in shares of Lyft by 8.5% in the 4th quarter. Mariner LLC now owns 18,916 shares of the ride-sharing company's stock valued at $244,000 after purchasing an additional 1,479 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lyft by 112.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,363,978 shares of the ride-sharing company's stock valued at $30,498,000 after purchasing an additional 1,250,967 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Lyft by 428.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,270,203 shares of the ride-sharing company's stock valued at $16,386,000 after purchasing an additional 1,030,014 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Lyft by 2.4% in the 4th quarter. Voya Investment Management LLC now owns 248,536 shares of the ride-sharing company's stock valued at $3,206,000 after purchasing an additional 5,883 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Lyft in the 4th quarter valued at about $806,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup reiterated a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th. Roth Capital raised Lyft from a "neutral" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, August 7th. BMO Capital Markets reiterated a "market perform" rating and issued a $16.00 price objective (up from $15.00) on shares of Lyft in a report on Thursday, August 7th. UBS Group increased their price objective on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Susquehanna decreased their price objective on shares of Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.83.

Lyft Stock Up 0.4%

LYFT stock traded up $0.08 during midday trading on Wednesday, reaching $16.88. The company had a trading volume of 41,656,697 shares, compared to its average volume of 18,248,857. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $6.86 billion, a P/E ratio of 70.35, a PEG ratio of 2.65 and a beta of 2.33. The company has a 50 day moving average of $15.21 and a two-hundred day moving average of $13.98.

Lyft (NASDAQ:LYFT - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Erin Brewer sold 15,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,821 shares of company stock valued at $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.