Lyft, Inc. $LYFT Stock Holdings Increased by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in Lyft, Inc. by 4.9%, acquiring an additional 36,800 shares, bringing its total ownership to 787,200 shares.
• Lyft reported $0.10 earnings per share for its latest quarter, missing analysts' estimates of $0.27, with a revenue of $1.59 billion.
• As of now, 83.07% of Lyft's stock is owned by institutional investors, highlighting strong institutional interest in the ride-sharing company.

Swiss National Bank grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 787,200 shares of the ride-sharing company's stock after buying an additional 36,800 shares during the period. Swiss National Bank owned 0.19% of Lyft worth $9,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Amalgamated Bank increased its position in Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock worth $277,000 after buying an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Lyft by 11.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after purchasing an additional 914 shares during the period. Guggenheim Capital LLC grew its position in shares of Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after purchasing an additional 970 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Lyft by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock valued at $1,081,000 after purchasing an additional 1,132 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Down 2.8%

Shares of LYFT traded down $0.45 during midday trading on Tuesday, reaching $15.57. 14,247,051 shares of the company were exchanged, compared to its average volume of 18,136,537. The stock has a 50-day moving average price of $14.95 and a 200-day moving average price of $13.79. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 64.88, a P/E/G ratio of 2.58 and a beta of 2.26. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $19.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

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

Insiders Place Their Bets

In other Lyft news, CEO John David Risher purchased 6,538 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the purchase, the chief executive officer owned 11,791,340 shares in the company, valued at $180,289,588.60. The trade was a 0.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the business's 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 completion of the transaction, the director owned 20,467 shares in the company, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of recent analyst reports. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price objective (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. TD Cowen upgraded Lyft from a "hold" rating to a "buy" rating and lifted their target price for the company from $16.00 to $21.00 in a report on Tuesday, June 24th. Oppenheimer reduced their target price on Lyft from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded Lyft from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Nine 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 stock. According to data from MarketBeat.com, Lyft currently has a consensus rating of "Hold" and an average target price of $16.70.

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.