Rakuten Group Inc. Takes Position in Lyft, Inc. $LYFT

Key Points

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Rakuten Group Inc. acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 10,988,521 shares of the ride-sharing company's stock, valued at approximately $130,434,000. Lyft makes up 15.6% of Rakuten Group Inc.'s holdings, making the stock its 2nd largest position. Rakuten Group Inc. owned 2.63% of Lyft at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Two Sigma Advisers LP grew its position in shares of Lyft by 828.5% in 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 purchasing an additional 5,945,000 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Lyft by 156.9% in 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Lyft during the 1st quarter worth approximately $31,143,000. Jupiter Asset Management Ltd. raised its holdings in Lyft by 2,553.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,607,399 shares of the ride-sharing company's stock valued at $30,950,000 after buying an additional 2,509,118 shares during the period. Finally, Capital World Investors boosted its position in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after buying an additional 2,240,478 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LYFT has been the subject of several research analyst reports. Oppenheimer lowered their price target on Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 9th. UBS Group lifted their target price on Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Susquehanna decreased their target price on Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $16.00 target price (up from $15.00) on shares of Lyft in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.70.

Insider Activity

In related news, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares in the company, valued at approximately $335,863.47. This trade represents a 7.13% 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, CEO John David Risher bought 6,538 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

Shares of LYFT traded up $1.20 during mid-day trading on Friday, reaching $17.01. 24,096,065 shares of the company's stock were exchanged, compared to its average volume of 18,142,844. The company has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $13.85. 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 company has a market cap of $6.91 billion, a price-to-earnings ratio of 70.88, a PEG ratio of 2.54 and a beta of 2.26. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last released 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). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.