Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in Lyft by 2,553.0%, acquiring over 2.5 million additional shares during the first quarter, bringing their total holdings to approximately $30.95 million.
• Lyft's CEO, John David Risher, purchased 6,538 shares at an average price of $15.29, increasing his ownership to about $180.29 million in total.
• The company's latest earnings report indicated a missed EPS estimate of $0.20, reporting only $0.01 EPS, even though revenue rose by 13.5% year-over-year.

Jupiter Asset Management Ltd. raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 2,553.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,607,399 shares of the ride-sharing company's stock after purchasing an additional 2,509,118 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.62% of Lyft worth $30,950,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the 4th quarter worth $25,000. GAMMA Investing LLC raised its holdings in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after purchasing an additional 1,237 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Lyft during the first quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Lyft in the 1st quarter valued at $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LYFT shares. JPMorgan Chase & Co. increased their target price on Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Sanford C. Bernstein upped their target price on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. DA Davidson restated a "neutral" rating and issued a $15.00 price target on shares of Lyft in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Finally, Oppenheimer boosted their price target on Lyft from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.98.

Insider Transactions at Lyft

In other news, CEO John David Risher acquired 6,538 shares of Lyft stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director directly owned 20,467 shares of the company's stock, valued at approximately $335,863.47. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT traded up $0.46 during mid-day trading on Monday, hitting $14.08. 20,297,641 shares of the company were exchanged, compared to its average volume of 13,771,277. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. The stock has a 50 day simple moving average of $15.20 and a 200-day simple moving average of $13.73. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 93.87, a price-to-earnings-growth ratio of 2.67 and a beta of 2.26. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, sell-side 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.