EULAV Asset Management Trims Stake in Lyft, Inc. (NASDAQ:LYFT)

EULAV Asset Management lowered its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 240,000 shares of the ride-sharing company's stock after selling 25,000 shares during the period. EULAV Asset Management owned 0.06% of Lyft worth $2,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LYFT. Renaissance Technologies LLC boosted its holdings in Lyft by 282.0% in 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 in the last quarter. Two Sigma Advisers LP raised its stake in shares of 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 purchasing an additional 5,945,000 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Lyft by 156.9% in 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 purchasing an additional 4,901,358 shares during the last quarter. Norges Bank purchased a new stake in shares of Lyft in the fourth quarter worth approximately $49,599,000. Finally, Capital World Investors raised its stake in shares of Lyft by 49.4% in the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after purchasing an additional 2,240,478 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Buying and Selling

In other Lyft news, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the transaction, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the transaction, the insider owned 959,697 shares of the company's stock, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,732 shares of company stock valued at $347,159 in the last ninety days. 3.07% of the stock is owned by company insiders.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.34 during mid-day trading on Thursday, hitting $15.32. The company had a trading volume of 16,524,560 shares, compared to its average volume of 16,310,803. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 102.13, a P/E/G ratio of 3.23 and a beta of 2.20. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average price is $15.43 and its 200-day moving average price is $13.60.

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 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 analysts' expectations of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. Lyft's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. On average, sell-side analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group increased their price objective on Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Bank of America downgraded Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective for the company. in a research note on Thursday, April 3rd. Wells Fargo & Company increased their price objective on Lyft from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Barclays increased their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $16.78.

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.