Captrust Financial Advisors Acquires 18,299 Shares of Lyft, Inc. (NASDAQ:LYFT)

Captrust Financial Advisors boosted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 169.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,112 shares of the ride-sharing company's stock after buying an additional 18,299 shares during the period. Captrust Financial Advisors' holdings in Lyft were worth $376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Lyft by 14.0% during the 4th quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock worth $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in shares of Lyft in the 4th quarter worth about $1,681,000. Renaissance Technologies LLC boosted its position in shares of Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after buying an additional 6,365,727 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Lyft by 1,957.5% in the 4th quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after buying an additional 274,789 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

NASDAQ LYFT traded up $0.11 during trading hours on Friday, hitting $16.10. The company had a trading volume of 12,529,679 shares, compared to its average volume of 16,267,492. The firm has a market cap of $6.73 billion, a P/E ratio of 268.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The business has a fifty day simple moving average of $12.78 and a 200-day simple moving average of $13.76.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business posted $0.15 earnings per share. Lyft's revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has approved a stock buyback program on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. DA Davidson reissued a "neutral" rating and issued a $15.00 target price on shares of Lyft in a research note on Wednesday, April 16th. Truist Financial cut their target price on shares of Lyft from $20.00 to $17.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Bank of America downgraded shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a research note on Thursday, April 3rd. Finally, Tigress Financial reissued a "buy" rating and issued a $28.00 target price (up previously from $26.00) on shares of Lyft in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.63.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. This trade represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now directly owns 297,640 shares of the company's stock, valued at $3,970,517.60. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,571 shares of company stock valued at $465,634 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

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.