Two Sigma Advisers LP Grows Stake in Lyft, Inc. (NASDAQ:LYFT)

Two Sigma Advisers LP lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 828.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,662,535 shares of the ride-sharing company's stock after acquiring an additional 5,945,000 shares during the period. Two Sigma Advisers LP owned 1.61% of Lyft worth $85,947,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft in the 4th quarter worth approximately $29,000. Byrne Asset Management LLC bought a new position in shares of Lyft in the 4th quarter worth approximately $35,000. Plato Investment Management Ltd bought a new position in shares of Lyft in the 4th quarter worth approximately $35,000. Harbour Investments Inc. boosted its stake in Lyft by 259.7% during the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Lyft during the fourth quarter worth about $41,000. Institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

LYFT stock traded up $0.11 during trading on Friday, reaching $16.10. The stock had a trading volume of 12,529,679 shares, compared to its average volume of 16,224,662. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.07. The stock's 50 day moving average is $12.78 and its two-hundred day moving average is $13.80. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market cap of $6.73 billion, a PE ratio of 268.33, a PEG ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $0.15 EPS. The company's revenue 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 of Directors has authorized a stock repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares of the company's stock, valued at $3,970,517.60. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,571 shares of company stock valued at $465,634 in the last 90 days. Company insiders own 3.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LYFT shares. DA Davidson reissued a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their price objective on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 12th. Finally, BMO Capital Markets reduced their price target on Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. One equities research 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 MarketBeat.com, Lyft presently has a consensus rating of "Hold" and an average price target of $16.63.

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.