Charles Schwab Investment Management Inc. Has $40.81 Million Stock Holdings in Lyft, Inc. $LYFT

Charles Schwab Investment Management Inc. trimmed its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,437,891 shares of the ride-sharing company's stock after selling 158,448 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of Lyft worth $40,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of LYFT. Two Sigma Advisers LP grew its position 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 valued at $85,947,000 after acquiring an additional 5,945,000 shares during the period. Two Sigma Investments LP grew its holdings in shares of Lyft by 156.9% in 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. Jupiter Asset Management Ltd. increased its position in shares of Lyft by 2,553.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock worth $30,950,000 after purchasing an additional 2,509,118 shares in the last quarter. Capital World Investors lifted its holdings in Lyft by 49.4% during 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 purchasing an additional 2,240,478 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock valued at $451,645,000 after buying an additional 2,046,639 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LYFT. JPMorgan Chase & Co. raised their price objective on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Canaccord Genuity Group dropped their price target on Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a report on Thursday, August 7th. Susquehanna reiterated a "neutral" rating and issued a $14.00 price objective (down previously from $18.00) on shares of Lyft in a research report on Monday, August 11th. Wall Street Zen upgraded Lyft from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company lifted their price target on Lyft from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $16.70.

Lyft Stock Up 8.2%

Shares of Lyft stock opened at $15.82 on Monday. The company has a market capitalization of $6.43 billion, a P/E ratio of 65.92, a price-to-earnings-growth ratio of 2.58 and a beta of 2.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $14.94 and a two-hundred day moving average of $13.78. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last posted 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). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%. Lyft's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Lyft news, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director 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 document filed with the SEC, which is available through the SEC website. Also, CEO John David Risher acquired 6,538 shares of Lyft stock in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the transaction, the chief executive officer directly owned 11,791,340 shares of the company's stock, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by company insiders.

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.

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