Grace & Mercy Foundation Inc. Acquires New Holdings in Lyft, Inc. $LYFT

Key Points

• Grace & Mercy Foundation Inc. has made a significant investment of $11.57 million in Lyft, acquiring 975,000 shares, which now accounts for approximately 2.9% of its portfolio.
• Despite the new investment, Lyft's stock has seen a slight decline of 0.8% and currently trades around $16.79, with a market cap of $6.82 billion.
• Insider transactions indicate a cautious sentiment, as CFO Erin Brewer and another insider sold a combined total of 44,821 shares recently, resulting in a reduction of their ownership stakes.

Grace & Mercy Foundation Inc. acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 975,000 shares of the ride-sharing company's stock, valued at approximately $11,573,000. Lyft makes up 2.9% of Grace & Mercy Foundation Inc.'s investment portfolio, making the stock its 10th largest position. Grace & Mercy Foundation Inc. owned 0.23% of Lyft at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYFT. Rakuten Group Inc. purchased a new stake in shares of Lyft in the 1st quarter worth $130,434,000. Two Sigma Advisers LP increased its stake in shares of Lyft by 828.5% in 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 in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after purchasing an additional 5,178,118 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Lyft by 103.3% in the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after purchasing an additional 4,980,876 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake 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 in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent 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 report on Friday, June 27th. Oppenheimer dropped their target price on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. UBS Group upped their target price on shares of Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. TD Cowen raised shares of 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 report on Tuesday, June 24th. Finally, Susquehanna dropped their target price 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 research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $16.87.

Lyft Trading Up 3.8%

Shares of NASDAQ:LYFT traded up $0.68 during trading on Tuesday, reaching $18.39. 23,065,121 shares of the company were exchanged, compared to its average volume of 18,337,521. The firm has a market capitalization of $7.47 billion, a PE ratio of 76.63, a P/E/G ratio of 2.72 and a beta of 2.33. The business's fifty day simple moving average is $15.32 and its 200-day simple moving average is $14.08. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction that occurred 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 directly owned 850,388 shares of the company's stock, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John David Risher acquired 5,926 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 59,821 shares of company stock valued at $960,566. 3.07% of the stock is currently owned by company insiders.

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.