Graham Capital Management L.P. Acquires 154,297 Shares of Lyft, Inc. $LYFT

Key Points

• Graham Capital Management L.P. increased its holdings in Lyft by 194.5% during the 1st quarter, owning 233,609 shares valued at $2.77 million after acquiring an additional 154,297 shares.
• Several equities analysts raised their price targets for Lyft, with recommendations varying from "hold" to "buy," reflecting differing perspectives on the stock's potential performance.
• Lyft reported a net revenue of $1.59 billion for the last quarter, falling short of expectations, and posted an EPS of $0.10, missing the consensus estimate of $0.27.

Graham Capital Management L.P. grew its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 194.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 233,609 shares of the ride-sharing company's stock after purchasing an additional 154,297 shares during the quarter. Graham Capital Management L.P. owned about 0.06% of Lyft worth $2,773,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of LYFT. Rakuten Group Inc. acquired a new position in Lyft in the first quarter worth $130,434,000. Two Sigma Advisers LP boosted its stake in 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in Lyft by 26.3% in the first 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. Two Sigma Investments LP boosted its stake in 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Lyft by 83,744.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company's stock worth $37,331,000 after purchasing an additional 3,141,240 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction dated 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. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company'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 sale, the insider owned 850,388 shares of the company's stock, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,821 shares of company stock valued at $701,966 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of recent analyst reports. Oppenheimer reduced their price objective on Lyft from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. The Goldman Sachs Group raised Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Friday, May 9th. Barclays upped their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Sanford C. Bernstein upped their price target on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Tigress Financial reaffirmed a "buy" rating and set a $28.00 price target (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and a consensus target price of $16.83.

Lyft Trading Down 0.8%

NASDAQ LYFT traded down $0.13 on Thursday, reaching $16.79. The company had a trading volume of 17,963,209 shares, compared to its average volume of 18,305,674. The stock's 50 day moving average is $15.26 and its 200-day moving average is $14.02. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 69.96, a PEG ratio of 2.65 and a beta of 2.33. 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, Inc. has a 52 week low of $9.66 and a 52 week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. Equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

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.