Trexquant Investment LP Acquires 664,580 Shares of Lyft, Inc. $LYFT

Key Points

• Trexquant Investment LP increased its stake in Lyft, Inc. by 27.8% during the first quarter, owning 3,056,154 shares worth approximately $36.3 million.
• Lyft reported earnings of $0.10 per share for the last quarter, falling short of the expected $0.27, with revenue of $1.59 billion.
• The stock has seen recent insider selling, with executives such as Lindsay Catherine Llewellyn and CFO Erin Brewer reducing their holdings.

Trexquant Investment LP boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 27.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,056,154 shares of the ride-sharing company's stock after acquiring an additional 664,580 shares during the period. Lyft accounts for 0.4% of Trexquant Investment LP's investment portfolio, making the stock its 22nd biggest holding. Trexquant Investment LP owned approximately 0.73% of Lyft worth $36,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Lyft by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company's stock worth $115,000 after acquiring an additional 2,871 shares during the last quarter. Maxi Investments CY Ltd lifted its position in Lyft by 320.4% during the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company's stock worth $11,228,000 after acquiring an additional 720,933 shares during the last quarter. Meridiem Capital Partners LP acquired a new position in Lyft during the 4th quarter worth $11,571,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Lyft by 40.2% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,314 shares of the ride-sharing company's stock worth $1,221,000 after acquiring an additional 29,912 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after acquiring an additional 5,178,118 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LYFT shares. TD Cowen raised shares of Lyft from a "hold" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $21.00 in a research report on Tuesday, June 24th. BMO Capital Markets reissued a "market perform" rating and set a $16.00 target price (up previously from $15.00) on shares of Lyft in a research report on Thursday, August 7th. Wells Fargo & Company boosted their target price on shares of Lyft from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Susquehanna cut their price objective on shares of Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research report on Thursday, June 5th. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Lyft has an average rating of "Hold" and a consensus target price of $16.83.

Insider Transactions at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the sale, the chief financial officer owned 540,759 shares of the company's stock, valued at $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,821 shares of company stock worth $701,966. 3.07% of the stock is currently owned by insiders.

Lyft Stock Performance

Shares of LYFT traded up $0.08 during trading hours on Friday, reaching $16.22. 17,103,169 shares of the company traded hands, compared to its average volume of 21,885,048. The stock's fifty day moving average is $15.17 and its 200 day moving average is $13.94. The stock has a market cap of $6.59 billion, a P/E ratio of 67.59, a price-to-earnings-growth ratio of 2.65 and a beta of 2.26. 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, Inc. has a 1-year low of $9.66 and a 1-year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced 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 net margin of 1.51% and a return on equity of 14.32%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. Equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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.