Lyft, Inc. $LYFT Stock Position Increased by PDT Partners LLC

Key Points

• PDT Partners LLC increased its holdings in Lyft, Inc. by 123.9%, owning 747,902 shares valued at approximately $8.88 million.
• Several large investors, including PNC Financial and Maxi Investments, also boosted their stakes, highlighting renewed confidence in Lyft's stock.
• Lyft's recent earnings report showed a 10.6% year-over-year revenue increase, although it missed analysts' EPS expectations by $0.17.

PDT Partners LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 123.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 747,902 shares of the ride-sharing company's stock after acquiring an additional 413,902 shares during the quarter. Lyft comprises 0.6% of PDT Partners LLC's holdings, making the stock its 6th biggest position. PDT Partners LLC owned 0.18% of Lyft worth $8,878,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $451,645,000 after acquiring an additional 2,046,639 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock valued at $294,978,000 after purchasing an additional 5,178,118 shares in the last quarter. Rakuten Group Inc. acquired a new position in Lyft during the 1st quarter valued at approximately $130,434,000. Jacobs Levy Equity Management Inc. increased its stake in 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 purchasing an additional 1,224,056 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in 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 purchasing an additional 4,901,358 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares of the company's stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the sale, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,821 shares of company stock worth $960,566 over the last 90 days. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on LYFT. Wall Street Zen upgraded shares of Lyft from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Sanford C. Bernstein upped their price target on shares of Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Wells Fargo & Company upped their price target on shares of Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group upped their price target on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Roth Capital upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target on the stock in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of "Hold" and an average price target of $16.87.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded down $0.13 during midday trading on Friday, reaching $16.66. The company's stock had a trading volume of 15,556,121 shares, compared to its average volume of 19,581,628. The firm has a market capitalization of $6.77 billion, a PE ratio of 69.42, a P/E/G ratio of 2.74 and a beta of 2.33. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $19.07. The stock has a fifty day moving average of $15.28 and a 200 day moving average of $14.04. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

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 for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.