Sivia Capital Partners LLC Acquires Shares of 29,844 Lyft, Inc. $LYFT

Key Points

• Sivia Capital Partners LLC acquired 29,844 shares of Lyft, Inc. valued at approximately $470,000 during the 2nd quarter.
• Lyft reported $1.59 billion in revenue for the last quarter, missing expectations, while earnings per share were $0.10, lower than analyst estimates of $0.27.
• Several large investors, including Vanguard Group Inc. and AQR Capital Management LLC, significantly increased their stakes in Lyft, which is currently heavily held by institutional investors.

Sivia Capital Partners LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,844 shares of the ride-sharing company's stock, valued at approximately $470,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Lyft by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock valued at $451,645,000 after buying an additional 2,046,639 shares during the period. Ameriprise Financial Inc. boosted its position 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 valued at $294,978,000 after buying an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in Lyft in the 1st quarter valued at about $130,434,000. AQR Capital Management LLC raised its holdings in shares of Lyft by 103.3% in the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock valued at $110,598,000 after purchasing an additional 4,980,876 shares in the last quarter. Finally, Invenomic Capital Management LP raised its holdings in shares of Lyft by 75.2% in the 1st quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company's stock valued at $42,584,000 after purchasing an additional 1,539,388 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $22.84 on Thursday. The company's fifty day moving average price is $15.83 and its 200 day moving average price is $14.39. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a market capitalization of $9.28 billion, a PE ratio of 95.17, a price-to-earnings-growth ratio of 3.16 and a beta of 2.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (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 analysts' expectations of $1.61 billion. During the same period last year, the company posted $0.24 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYFT. BMO Capital Markets restated a "market perform" rating and issued a $16.00 price target (up previously from $15.00) on shares of Lyft in a report on Thursday, August 7th. Oppenheimer boosted their price target on shares of Lyft from $17.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Lyft from $19.00 to $20.50 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Sanford C. Bernstein boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Finally, Canaccord Genuity Group reduced their price target on shares of Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and an average target price of $17.33.

Insider Buying and Selling

In other news, CEO John David Risher purchased 5,926 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the acquisition, the chief executive officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the sale, the insider directly owned 835,782 shares in the company, valued at $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,427 shares of company stock valued at $1,252,686. Corporate insiders own 3.07% of the company's stock.

About Lyft

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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