Nuveen Asset Management LLC Buys 109,434 Shares of Lyft, Inc. (NASDAQ:LYFT)

Nuveen Asset Management LLC increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,458,557 shares of the ride-sharing company's stock after purchasing an additional 109,434 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.35% of Lyft worth $18,815,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LYFT. Vanguard Group Inc. lifted its stake in Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after acquiring an additional 984,907 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Lyft by 15.1% in the fourth 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 last quarter. Renaissance Technologies LLC lifted its stake in Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Finally, Capital World Investors lifted its stake in Lyft by 49.4% in the fourth 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 last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on LYFT. Wells Fargo & Company cut their price target on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price target for the company. in a research note on Thursday, April 3rd. Oppenheimer reiterated an "outperform" rating and issued a $17.00 price target (up previously from $15.00) on shares of Lyft in a research note on Friday, May 9th. Loop Capital cut their price target on shares of Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of Lyft in a research note on Friday, May 9th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Lyft presently has a consensus rating of "Hold" and a consensus price target of $16.63.

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of the company's stock in a transaction 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 sale, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction 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 directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Lyft Price Performance

LYFT stock traded up $0.22 during trading on Tuesday, reaching $16.32. 19,138,844 shares of the company were exchanged, compared to its average volume of 16,279,007. The company has a 50-day moving average of $12.87 and a two-hundred day moving average of $13.75. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 272.00, a P/E/G ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75.

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

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

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.