Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 169.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,112 shares of the ride-sharing company's stock after buying an additional 18,299 shares during the quarter. Captrust Financial Advisors' holdings in Lyft were worth $376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings 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 acquiring an additional 49,138 shares during the period. Pacer Advisors Inc. raised its stake in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after purchasing an additional 2,302,248 shares during the period. Paragon Capital Management Inc. purchased a new position in Lyft during the fourth quarter worth about $1,681,000. Renaissance Technologies LLC boosted its holdings in Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after purchasing an additional 6,365,727 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake 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 valued at $3,726,000 after buying an additional 274,789 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on LYFT shares. KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. Piper Sandler restated an "overweight" rating and issued a $18.00 target price (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. BMO Capital Markets decreased their price target on Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Finally, Susquehanna upped their target price on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. One research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.56.

Lyft Trading Down 0.1%

NASDAQ:LYFT opened at $16.76 on Tuesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The stock has a market cap of $7.01 billion, a P/E ratio of 279.33, a P/E/G ratio of 1.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The stock has a 50-day simple moving average of $12.43 and a 200-day simple moving average of $13.73.

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

Lyft announced that its Board of Directors has authorized a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider now owns 959,697 shares of the company's stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares of the company's stock, valued at $3,970,517.60. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock valued at $486,841 in the last ninety days. 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.

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