Toronto Dominion Bank Acquires Shares of 21,660 Lyft, Inc. (NASDAQ:LYFT)

Toronto Dominion Bank acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,660 shares of the ride-sharing company's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYFT. Vanguard Group Inc. raised its holdings in Lyft by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after buying an additional 984,907 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock valued at $120,463,000 after acquiring an additional 1,224,056 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lyft by 282.0% in the fourth 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 during the last quarter. Two Sigma Investments LP raised its position in Lyft by 156.9% during 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 during the last quarter. Finally, Capital World Investors grew its position in shares of Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after buying an additional 2,240,478 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LYFT shares. Susquehanna boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Barclays boosted their target price on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Evercore ISI cut their price target on Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a research note on Wednesday, February 12th. Piper Sandler reissued an "overweight" rating and issued a $18.00 price objective (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Finally, Wedbush decreased their price target on Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. One 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.63.

Insider Activity

In other news, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director now owns 20,467 shares in the company, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director now directly owns 879,498 shares of the company's stock, valued at approximately $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

Shares of Lyft stock traded up $0.08 during trading hours on Tuesday, hitting $15.35. The company's stock had a trading volume of 10,809,562 shares, compared to its average volume of 16,353,811. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The business has a 50 day moving average price of $13.22 and a two-hundred day moving average price of $13.66. The company has a market cap of $6.42 billion, a PE ratio of 255.83, a PEG ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $0.15 earnings per share. The business's quarterly revenue was up 13.5% on a year-over-year basis. Analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has approved a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.