Penserra Capital Management LLC Reduces Stake in Lyft, Inc. (NASDAQ:LYFT)

Penserra Capital Management LLC trimmed its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,291 shares of the ride-sharing company's stock after selling 22,764 shares during the period. Penserra Capital Management LLC owned about 0.07% of Lyft worth $3,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Lyft by 282.0% in the fourth 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 during the last quarter. Federated Hermes Inc. boosted its stake in shares of Lyft by 1,957.5% during the 4th quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after acquiring an additional 274,789 shares during the last quarter. Meridiem Capital Partners LP purchased a new position in shares of Lyft during the 4th quarter worth $11,571,000. Capital World Investors boosted its stake 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 worth $87,404,000 after acquiring an additional 2,240,478 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Lyft during the 4th quarter worth $1,221,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director owned 879,498 shares in the company, valued at approximately $13,896,068.40. This represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John David Risher purchased 6,538 shares of Lyft stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is currently owned by corporate insiders.

Lyft Price Performance

Lyft stock traded down $0.41 during mid-day trading on Friday, reaching $14.91. 10,825,164 shares of the company's stock traded hands, compared to its average volume of 16,259,799. The stock has a 50 day moving average of $15.53 and a two-hundred day moving average of $13.62. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 99.40, a PEG ratio of 3.01 and a beta of 2.20. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The firm's quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Loop Capital lowered their target price on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Susquehanna lifted their price objective on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. DA Davidson reaffirmed a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. Oppenheimer lifted their price objective on Lyft from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.78.

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.