Northwestern Mutual Wealth Management Co. Purchases 3,141,240 Shares of Lyft, Inc. $LYFT

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Lyft, purchasing over 3 million shares, now holding approximately 0.75% of the company valued at $37.3 million.
• Lyft's stock price increased by 7.6%, and the company reported a revenue of $1.59 billion for the last quarter, although it missed earnings estimates with a reported EPS of $0.10.
• Analysts have mixed views on Lyft, with ratings ranging from hold to strong-buy, and an average price target of $16.83 attributed to the stock.

Northwestern Mutual Wealth Management Co. lifted its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 83,744.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,144,991 shares of the ride-sharing company's stock after purchasing an additional 3,141,240 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.75% of Lyft worth $37,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LYFT. Mariner LLC boosted its holdings in Lyft by 8.5% in the fourth quarter. Mariner LLC now owns 18,916 shares of the ride-sharing company's stock worth $244,000 after acquiring an additional 1,479 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after acquiring an additional 970 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lyft by 112.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,363,978 shares of the ride-sharing company's stock worth $30,498,000 after acquiring an additional 1,250,967 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lyft by 428.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,270,203 shares of the ride-sharing company's stock worth $16,386,000 after acquiring an additional 1,030,014 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Lyft by 2.4% in the fourth quarter. Voya Investment Management LLC now owns 248,536 shares of the ride-sharing company's stock worth $3,206,000 after acquiring an additional 5,883 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Up 7.6%

Lyft stock opened at $17.01 on Monday. The stock has a market cap of $6.91 billion, a PE ratio of 70.88, a price-to-earnings-growth ratio of 2.77 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, Inc. has a one year low of $9.66 and a one year high of $19.07. The stock has a fifty day moving average of $15.00 and a 200 day moving average of $13.85.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. As a group, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

LYFT has been the topic of several analyst reports. Citigroup reissued a "hold" rating and issued a $14.00 target price (down from $22.00) on shares of Lyft in a report on Friday, June 27th. BMO Capital Markets restated a "market perform" rating and issued a $16.00 price target (up previously from $15.00) on shares of Lyft in a research note on Thursday, August 7th. Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price target on shares of Lyft in a research note on Thursday, June 5th. Wall Street Zen upgraded Lyft from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Roth Capital upgraded Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target for the company in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lyft currently has a consensus rating of "Hold" and an average price target of $16.83.

Insider Transactions at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total value of $228,600.00. Following the completion of the sale, the chief financial officer owned 540,759 shares in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director owned 20,467 shares of the company's stock, valued at approximately $335,863.47. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,928 shares of company stock worth $703,839 in the last three months. 3.07% of the stock is owned by insiders.

Lyft Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.