Ieq Capital LLC Acquires 159,348 Shares of Lyft, Inc. $LYFT

Key Points

• Ieq Capital LLC increased its holdings in Lyft, Inc. by 35.1%, owning a total of 613,875 shares worth approximately $7.3 million following a purchase of 159,348 additional shares in the last quarter.
• Lyft reported $0.10 EPS for the last quarter, missing analysts' expectations of $0.27, while quarterly revenue was $1.59 billion, slightly below the anticipated $1.61 billion.
• Recent analyst reports set price targets for Lyft's shares between $16.00 and $21.00, with an overall average rating of "Hold" and a target price of $16.83.

Ieq Capital LLC boosted its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 613,875 shares of the ride-sharing company's stock after purchasing an additional 159,348 shares during the period. Ieq Capital LLC owned about 0.15% of Lyft worth $7,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock worth $451,645,000 after purchasing an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. boosted its position 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 during the last quarter. Rakuten Group Inc. purchased a new position in Lyft in the first quarter worth $130,434,000. Jacobs Levy Equity Management Inc. boosted its position in Lyft by 15.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock worth $120,463,000 after purchasing an additional 1,224,056 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Analyst Ratings Changes

LYFT has been the topic of a number of recent research reports. Citigroup reaffirmed a "hold" rating and set a $14.00 price target (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. Barclays lifted their price objective on Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Roth Capital raised Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price objective for the company in a report on Thursday, August 7th. UBS Group lifted their price objective on Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, TD Cowen raised Lyft from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $16.00 to $21.00 in a report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.83.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.54 during midday trading on Tuesday, reaching $16.76. 13,695,079 shares of the company traded hands, compared to its average volume of 18,050,539. 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 12 month low of $9.66 and a 12 month high of $19.07. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 69.52, a price-to-earnings-growth ratio of 2.65 and a beta of 2.33. The firm's fifty day moving average price is $15.19 and its two-hundred day moving average price is $13.96.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief financial officer owned 540,759 shares in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,821 shares of company stock worth $701,966 over the last 90 days. Corporate insiders own 3.07% of the company's stock.

About Lyft

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.