Tidal Investments LLC Sells 50,133 Shares of Lyft, Inc. (NASDAQ:LYFT)

Tidal Investments LLC lessened its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 171,773 shares of the ride-sharing company's stock after selling 50,133 shares during the quarter. Tidal Investments LLC's holdings in Lyft were worth $2,216,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. True Wealth Design LLC increased its holdings in Lyft by 98.4% in the 4th quarter. True Wealth Design LLC now owns 4,264 shares of the ride-sharing company's stock worth $55,000 after buying an additional 2,115 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Lyft in the 4th quarter valued at $279,000. Shellback Capital LP acquired a new stake in shares of Lyft in the fourth quarter worth $1,935,000. Sherbrooke Park Advisers LLC raised its holdings in shares of Lyft by 39.6% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 111,105 shares of the ride-sharing company's stock worth $1,433,000 after purchasing an additional 31,500 shares during the last quarter. Finally, Point72 Italy S.r.l. purchased a new position in shares of Lyft during the fourth quarter worth $2,450,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Up 0.1%

NASDAQ LYFT opened at $15.99 on Friday. The business's fifty day simple moving average is $12.69 and its 200-day simple moving average is $13.78. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm has a market cap of $6.68 billion, a PE ratio of 266.50, a P/E/G ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the firm earned $0.15 earnings per share. Lyft's revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its board has approved a stock buyback plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

LYFT has been the subject of a number of recent research reports. Cantor Fitzgerald reduced their price objective on Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Friday, May 9th. Wedbush lowered their price objective on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $21.00 target price on shares of Lyft in a report on Monday, March 17th. Finally, Roth Capital reiterated a "neutral" rating on shares of Lyft in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.63.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now owns 911,922 shares of the company's stock, valued at $11,417,263.44. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,571 shares of company stock valued at $465,634 in the last quarter. Insiders own 3.07% of the company's stock.

Lyft 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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