Entropy Technologies LP Has $2.38 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Key Points

• Entropy Technologies LP increased its stake in Lyft, Inc. by 33.9% during the first quarter, now holding 200,639 shares valued at approximately $2.38 million.
• Roth Capital upgraded Lyft's rating from "neutral" to "buy" with a target price of $19.00, while several other analysts adjusted their price targets, leading to a consensus rating of "Hold".
• CEO John David Risher purchased 6,538 shares of Lyft at an average price of $15.29 per share, increasing his ownership stake, while a director sold 2,424 shares in a separate transaction.

Entropy Technologies LP raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 33.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,639 shares of the ride-sharing company's stock after buying an additional 50,741 shares during the period. Entropy Technologies LP's holdings in Lyft were worth $2,382,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock valued at $451,645,000 after acquiring an additional 2,046,639 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Lyft by 15.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock valued at $120,463,000 after acquiring an additional 1,224,056 shares during the period. Two Sigma Investments LP grew its position in shares of Lyft by 156.9% during the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock valued at $103,524,000 after acquiring an additional 4,901,358 shares during the period. Capital World Investors grew its position in shares of Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after acquiring an additional 2,240,478 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Lyft by 828.5% during the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock valued at $85,947,000 after acquiring an additional 5,945,000 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LYFT shares. Citigroup reaffirmed a "hold" rating and issued a $14.00 target price (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. Wall Street Zen raised shares of Lyft from a "buy" rating to a "strong-buy" rating in a report on Saturday. Barclays upped their target price 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. Finally, Wells Fargo & Company upped their target price on shares of Lyft from $14.00 to $15.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $16.70.

Lyft Trading Up 5.0%

Lyft stock traded up $0.70 during trading on Wednesday, reaching $14.58. The company had a trading volume of 21,059,631 shares, compared to its average volume of 18,780,518. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. The stock's 50 day moving average price is $14.95 and its two-hundred day moving average price is $13.75. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 49.57, a PEG ratio of 3.03 and a beta of 2.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70.

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 the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Lyft's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the transaction, the director owned 879,498 shares in the company, valued at approximately $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director owned 20,467 shares of the company's stock, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Company 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.