Quantbot Technologies LP Has $153,000 Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Quantbot Technologies LP significantly reduced its holdings in Lyft, cutting its position by 97.3% during the first quarter, leaving it with only 12,913 shares valued at approximately $153,000.
• Several institutional investors have increased their stakes in Lyft, with American Century Companies growing its holdings by 306.0%, now owning 416,572 shares worth about $4.95 million.
• Lyft reported earnings per share of $0.10 for the last quarter, missing analyst expectations of $0.27, while revenue grew by 10.6% year-over-year to $1.59 billion.

Quantbot Technologies LP lessened its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 97.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,913 shares of the ride-sharing company's stock after selling 460,867 shares during the quarter. Quantbot Technologies LP's holdings in Lyft were worth $153,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LYFT. Two Sigma Advisers LP raised its holdings in Lyft by 828.5% in the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock worth $85,947,000 after acquiring an additional 5,945,000 shares during the period. Two Sigma Investments LP increased its holdings in shares of 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 worth $103,524,000 after purchasing an additional 4,901,358 shares during the period. Nuveen LLC bought a new position in shares of Lyft during the 1st quarter worth about $31,143,000. Jupiter Asset Management Ltd. increased its holdings in shares of Lyft by 2,553.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock worth $30,950,000 after purchasing an additional 2,509,118 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 2,046,639 shares during the period. Institutional investors own 83.07% of the company's stock.

Lyft Price Performance

NASDAQ:LYFT traded up $0.35 on Tuesday, reaching $16.57. The stock had a trading volume of 12,107,997 shares, compared to its average volume of 18,041,738. The company has a market capitalization of $6.73 billion, a P/E ratio of 69.27, a price-to-earnings-growth ratio of 2.65 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 quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $15.19 and a 200-day moving average price of $13.96.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $0.24 earnings per share. Lyft's revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LYFT shares. Roth Capital upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Thursday, August 7th. Barclays boosted their price objective on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and upped their target price for the company from $16.00 to $21.00 in a research note on Tuesday, June 24th. BMO Capital Markets reissued a "market perform" rating and issued a $16.00 target price (up previously from $15.00) on shares of Lyft in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 9th. Nine research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lyft currently has an average rating of "Hold" and an average price target of $16.83.

Insider Activity at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer directly 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 at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,821 shares of company stock worth $701,966 over the last 90 days. 3.07% of the stock is currently owned by company insiders.

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.