Epoch Investment Partners Inc. Has $1.14 Million Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Epoch Investment Partners Inc. reduced its stake in Lyft, Inc. by 24.3%, selling 30,749 shares and owning 95,828 shares valued at approximately $1.14 million.
• Several institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., increased their holdings in Lyft during the same period, indicating significant interest from major financial entities.
• Lyft's recent earnings report showed a net loss of $0.10 EPS, missing expectations, and a revenue of $1.59 billion, which was also below analysts' forecast of $1.61 billion.

Epoch Investment Partners Inc. reduced its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,828 shares of the ride-sharing company's stock after selling 30,749 shares during the period. Epoch Investment Partners Inc.'s holdings in Lyft were worth $1,137,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new stake in Lyft in the fourth quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after acquiring an additional 1,237 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Lyft in the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC bought a new position in shares of Lyft in the first quarter valued at approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $46,000 after acquiring an additional 1,769 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LYFT. Citigroup reiterated a "hold" rating and set a $14.00 price target (down from $22.00) on shares of Lyft in a report on Friday, June 27th. Oppenheimer cut their target price on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Lyft from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price objective on shares of Lyft from $14.00 to $15.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Friday, May 9th. Nine analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $16.83.

Lyft Trading Up 3.6%

Shares of Lyft stock opened at $16.80 on Wednesday. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. The stock has a market capitalization of $6.83 billion, a P/E ratio of 70.00, a price-to-earnings-growth ratio of 2.65 and a beta of 2.33. The company has a 50-day simple moving average of $15.21 and a 200 day simple moving average of $13.98. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

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

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the sale, the chief financial officer directly owned 540,759 shares of the company's stock, valued at approximately $8,241,167.16. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,821 shares of company stock worth $701,966. Insiders own 3.07% of the company's stock.

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.