Ameriprise Financial Inc. Buys 5,178,118 Shares of Lyft, Inc. $LYFT

Key Points

• Ameriprise Financial Inc. increased its position in Lyft by 26.3%, owning approximately 5.94% of the company with a worth of $294.98 million after acquiring an additional 5.18 million shares.
• CEO John David Risher made a personal investment by buying 6,538 shares of Lyft stock, increasing his ownership by 0.06%, while another insider sold 28,356 shares indicating varied insider sentiment.
• Lyft's latest earnings report showed a net margin of 1.51% and revenue of $1.59 billion for the quarter, but the earnings per share missed estimates by $0.17.

Ameriprise Financial Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 26.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,849,205 shares of the ride-sharing company's stock after buying an additional 5,178,118 shares during the quarter. Ameriprise Financial Inc. owned approximately 5.94% of Lyft worth $294,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LYFT. Rakuten Group Inc. bought a new stake in Lyft during the 1st quarter valued at $130,434,000. Two Sigma Advisers LP raised its holdings in Lyft by 828.5% in the 4th 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. Two Sigma Investments LP raised its holdings in Lyft by 156.9% in the 4th 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. Nuveen LLC bought a new position in Lyft in the 1st quarter worth $31,143,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Lyft by 2,553.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock worth $30,950,000 after purchasing an additional 2,509,118 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John David Risher acquired 6,538 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the transaction, the chief executive officer owned 11,791,340 shares of the company's stock, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the sale, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,928 shares of company stock valued at $703,839. Company insiders own 3.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Barclays upped their price objective on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. 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, Wall Street Zen raised shares of Lyft from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Nine analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.83.

Lyft Stock Down 1.5%

Shares of NASDAQ:LYFT traded down $0.25 during midday trading on Tuesday, reaching $16.80. The company's stock had a trading volume of 15,212,732 shares, compared to its average volume of 18,122,871. The firm has a 50 day moving average of $15.07 and a 200-day moving average of $13.89. The firm has a market capitalization of $6.83 billion, a P/E ratio of 70.00, a PEG ratio of 2.77 and a beta of 2.26. 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.

Lyft (NASDAQ:LYFT - Get Free Report) last announced 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). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the company 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, research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

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.