DCF Advisers LLC Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

Key Points

• DCF Advisers LLC has made a new investment in Lyft, Inc. by purchasing 55,000 shares worth approximately $653,000.
• Major institutional investors, like Renaissance Technologies LLC and Two Sigma Advisers LP, have significantly increased their stakes in Lyft, indicating strong institutional interest.
• Wall Street analysts have issued varied ratings on Lyft, with a consensus rating of "Hold" and a price target averaging around $16.98.

DCF Advisers LLC purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,000 shares of the ride-sharing company's stock, valued at approximately $653,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYFT. Renaissance Technologies LLC increased its stake in Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Two Sigma Advisers LP increased its stake in Lyft by 828.5% during 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 acquiring an additional 5,945,000 shares during the last quarter. Two Sigma Investments LP increased its stake in 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 worth $103,524,000 after acquiring an additional 4,901,358 shares during the last quarter. Norges Bank acquired a new stake in Lyft during the fourth quarter worth about $49,599,000. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Lyft by 2,553.0% in the first quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock worth $30,950,000 after buying an additional 2,509,118 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several analyst reports. Citigroup reaffirmed a "hold" rating and issued a $14.00 target price (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. 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. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and upped their target price for the stock from $16.00 to $21.00 in a research report on Tuesday, June 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research report on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.98.

Insider Buying and Selling

In related news, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 20,467 shares of the company's stock, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John David Risher purchased 6,538 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was bought 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 in the company, 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. Company insiders own 3.07% of the company's stock.

Lyft Trading Down 3.1%

NASDAQ:LYFT opened at $13.62 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $15.20 and its two-hundred day moving average is $13.73. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.07. The company has a market cap of $5.69 billion, a PE ratio of 90.80, a P/E/G ratio of 2.67 and a beta of 2.26.

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 the consensus estimate of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The company's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft Company 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.

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