Jump Financial LLC Raises Holdings in Lyft, Inc. $LYFT

Key Points

• Jump Financial LLC increased its stake in Lyft, Inc. by 27.5%, acquiring a total of 526,793 shares valued at approximately $6.25 million.
• Several analysts have revised their price targets for Lyft, with UBS raising it to $15.00 and Goldman Sachs upgrading it to $20.00, reflecting growing investor confidence.
• Despite a 10.6% year-over-year revenue increase, Lyft reported earnings per share of $0.10, missing expectations by ($0.17) for the last quarter.

Jump Financial LLC grew its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 27.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,793 shares of the ride-sharing company's stock after buying an additional 113,490 shares during the quarter. Jump Financial LLC owned 0.13% of Lyft worth $6,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Spurstone Advisory Services LLC bought a new stake in shares of Lyft during the 4th quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Lyft during the 1st quarter valued at $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lyft during the 1st quarter valued at $35,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Lyft by 79.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,769 shares during the period. Institutional investors own 83.07% of the company's stock.

Insiders Place Their Bets

In other Lyft news, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction on Thursday, May 29th. The shares were acquired at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total value of $228,600.00. Following the completion of the sale, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LYFT. Sanford C. Bernstein raised their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a research report on Thursday, June 5th. 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 research 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 research report on Tuesday, July 29th. Finally, Canaccord Genuity Group dropped their target price on shares of Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lyft currently has a consensus rating of "Hold" and a consensus target price of $16.83.

Lyft Trading Down 3.3%

NASDAQ LYFT traded down $0.55 on Wednesday, hitting $16.25. 19,818,679 shares of the stock were exchanged, compared to its average volume of 22,168,910. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average price of $15.11 and a two-hundred day moving average price of $13.91. The firm has a market capitalization of $6.60 billion, a P/E ratio of 67.71, a P/E/G ratio of 2.74 and a beta of 2.26. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The firm 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 firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal 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.