Twinbeech Capital LP Lowers Stake in Lyft, Inc. (NASDAQ:LYFT)

Twinbeech Capital LP lowered its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 953,875 shares of the ride-sharing company's stock after selling 172,442 shares during the quarter. Twinbeech Capital LP owned 0.23% of Lyft worth $12,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Park Avenue Securities LLC purchased a new position in Lyft in the 4th quarter worth $388,000. Harel Insurance Investments & Financial Services Ltd. raised its position in Lyft by 10,225.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company's stock worth $5,475,000 after purchasing an additional 420,274 shares during the period. KBC Group NV raised its position in Lyft by 354.9% in the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock worth $3,434,000 after purchasing an additional 207,672 shares during the period. Pacer Advisors Inc. raised its position in Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after purchasing an additional 2,302,248 shares during the period. Finally, Smith Group Asset Management LLC purchased a new position in Lyft in the 4th quarter worth $280,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Trading Down 0.1%

NASDAQ:LYFT opened at $16.76 on Tuesday. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The company's 50-day simple moving average is $12.43 and its 200 day simple moving average is $13.73. The firm has a market capitalization of $7.01 billion, a P/E ratio of 279.33, a PEG ratio of 1.90 and a beta of 2.14.

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

Lyft declared that its board has authorized a stock repurchase plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 completion of the transaction, the director now directly owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider now directly owns 959,697 shares of the company's stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,143 shares of company stock valued at $486,841. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

LYFT has been the topic of a number of analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $17.00 target price (up previously from $15.00) on shares of Lyft in a research report on Friday, May 9th. Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective on the stock. in a research report on Thursday, April 3rd. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. DA Davidson restated a "neutral" rating and issued a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.56.

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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