RD Finance Ltd Acquires New Stake in Lyft, Inc. (NASDAQ:LYFT)

Key Points

• RD Finance Ltd has acquired a new stake in Lyft, Inc., purchasing 33,100 shares valued at approximately $393,000, which constitutes about 0.3% of its total holdings.
• Several institutional investors, including Renaissance Technologies LLC and Two Sigma Advisers LP, significantly increased their stakes in Lyft during the 4th quarter, with ownership by institutional investors now at 83.07%.
• Lyft reported $0.01 earnings per share for the latest quarter, missing analysts’ expectations, while revenues increased by 13.5% compared to the same period last year.

RD Finance Ltd acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 33,100 shares of the ride-sharing company's stock, valued at approximately $393,000. Lyft makes up approximately 0.3% of RD Finance Ltd's holdings, making the stock its 28th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of 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 purchasing an additional 5,945,000 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of 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 worth $103,524,000 after purchasing an additional 4,901,358 shares in the last quarter. Norges Bank bought a new stake in shares of Lyft in the 4th quarter worth $49,599,000. Finally, Capital World Investors grew its holdings in shares of Lyft by 49.4% in the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after acquiring an additional 2,240,478 shares during the period. Institutional investors own 83.07% of the company's stock.

Lyft Trading Down 1.0%

Shares of LYFT stock opened at $14.16 on Tuesday. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average price is $15.38 and its 200-day moving average price is $13.71. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 94.40, a price-to-earnings-growth ratio of 2.81 and a beta of 2.20.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm posted $0.15 earnings per share. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at Lyft

In other news, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director directly owned 20,467 shares of the company's stock, valued at approximately $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction dated Thursday, May 29th. The stock was purchased at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the acquisition, the chief executive officer directly owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Susquehanna lifted their price objective on Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Finally, Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price objective (up previously from $26.00) on shares of Lyft in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.95.

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.

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