Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP boosted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 156.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,025,099 shares of the ride-sharing company's stock after purchasing an additional 4,901,358 shares during the quarter. Two Sigma Investments LP owned about 1.93% of Lyft worth $103,524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake 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 valued at $55,000 after purchasing an additional 2,115 shares during the last quarter. Toronto Dominion Bank acquired a new position in Lyft in the 4th quarter valued at $279,000. Shellback Capital LP acquired a new position in Lyft in the 4th quarter valued at $1,935,000. Sherbrooke Park Advisers LLC raised its holdings in Lyft by 39.6% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 111,105 shares of the ride-sharing company's stock valued at $1,433,000 after acquiring an additional 31,500 shares during the last quarter. Finally, Point72 Italy S.r.l. acquired a new stake in Lyft in the 4th quarter valued at about $2,450,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated 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 approximately $11,417,263.44. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 38,143 shares of company stock valued at $486,841. 3.07% of the stock is owned by company insiders.

Lyft Stock Performance

Shares of Lyft stock traded up $0.02 during trading on Thursday, reaching $15.99. The company's stock had a trading volume of 12,467,104 shares, compared to its average volume of 16,224,766. The company has a 50-day moving average price of $12.61 and a two-hundred day moving average price of $13.76. 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 fifty-two week low of $8.93 and a fifty-two week high of $19.07. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. The firm's revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. On average, analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LYFT shares. Morgan Stanley cut their price target on Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. KeyCorp reiterated a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Roth Capital reissued a "neutral" rating on shares of Lyft in a research note on Wednesday, February 12th. Finally, Barclays increased their price target on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft currently has a consensus rating of "Hold" and a consensus target price of $16.63.

Lyft Company 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.