184,591 Shares in Lyft, Inc. $LYFT Acquired by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. acquired 184,591 shares of Lyft, Inc. valued at approximately $2.19 million during the first quarter of the year.
• Several other investors significantly increased their stakes in Lyft, with Rakuten Group Inc. leading with a new stake valued at $130.43 million.
• Lyft's latest earnings report revealed a quarter earnings per share of $0.10, which fell short of analysts' expectations of $0.27, while revenue reached $1.59 billion.

Polar Asset Management Partners Inc. purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 184,591 shares of the ride-sharing company's stock, valued at approximately $2,191,000.

Other large investors also recently modified their holdings of the company. Rakuten Group Inc. purchased a new stake in Lyft in the first quarter worth approximately $130,434,000. Two Sigma Advisers LP increased its stake in shares of Lyft by 828.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock valued at $85,947,000 after buying an additional 5,945,000 shares during the period. Ameriprise Financial Inc. raised its holdings in Lyft by 26.3% in the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after purchasing an additional 5,178,118 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Finally, Two Sigma Investments LP grew its stake in Lyft by 156.9% in the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock worth $103,524,000 after purchasing an additional 4,901,358 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LYFT. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of Lyft from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Canaccord Genuity Group lowered their price target on Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a report on Thursday, August 7th. Susquehanna dropped their price target on Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Finally, TD Cowen upgraded shares of Lyft from a "hold" rating to a "buy" rating and upped their target price for the stock from $16.00 to $21.00 in a research report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $16.87.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.68 on Tuesday, hitting $18.39. 23,066,393 shares of the company were exchanged, compared to its average volume of 19,258,604. The stock's 50 day moving average price is $15.36 and its 200 day moving average price is $14.11. The firm has a market capitalization of $7.47 billion, a P/E ratio of 63.25, a price-to-earnings-growth ratio of 2.89 and a beta of 2.33. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $19.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results 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 company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm's quarterly 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. Sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher bought 5,926 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 59,821 shares of company stock worth $960,566. Corporate 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.