Rheos Capital Works Inc. Buys New Stake in Lyft, Inc. $LYFT

Key Points

• Rheos Capital Works Inc. acquired 2.35 million shares of Lyft, valued at approximately $37 million, making it the firm's 13th largest holding.
• Institutional investors hold 83.07% of Lyft's stock, with several firms significantly increasing their stakes during the second quarter.
• Analysts have mixed ratings on Lyft, with price targets ranging from $14 to $22, and the stock currently holds an average rating of "Hold" with a consensus price target of $19.12.

Rheos Capital Works Inc. purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,350,000 shares of the ride-sharing company's stock, valued at approximately $37,036,000. Lyft makes up 2.1% of Rheos Capital Works Inc.'s holdings, making the stock its 13th largest holding. Rheos Capital Works Inc. owned 0.56% of Lyft at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bayforest Capital Ltd boosted its stake in shares of Lyft by 151.1% during the second quarter. Bayforest Capital Ltd now owns 21,933 shares of the ride-sharing company's stock valued at $346,000 after acquiring an additional 13,199 shares during the last quarter. NorthRock Partners LLC purchased a new position in Lyft in the 2nd quarter valued at about $215,000. Allspring Global Investments Holdings LLC purchased a new position in Lyft in the 2nd quarter valued at about $3,557,000. CWM LLC boosted its stake in shares of Lyft by 193.7% during the 2nd quarter. CWM LLC now owns 538,791 shares of the ride-sharing company's stock worth $8,491,000 after purchasing an additional 355,340 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Lyft by 92.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,536 shares of the ride-sharing company's stock worth $544,000 after buying an additional 16,570 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYFT has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Lyft from $15.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, September 18th. Susquehanna cut their price target on Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, August 11th. UBS Group raised their price objective on Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded Lyft from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Wells Fargo & Company upped their target price on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Eleven analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.12.

Insiders Place Their Bets

In related news, CEO John David Risher bought 5,926 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at approximately $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,427 shares of company stock worth $1,252,686 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Up 0.7%

LYFT opened at $20.13 on Wednesday. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50. The firm has a 50 day moving average price of $18.49 and a 200 day moving average price of $15.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $8.18 billion, a PE ratio of 83.88, a price-to-earnings-growth ratio of 3.13 and a beta of 2.40.

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 (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Lyft's quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current 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.

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