UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 5,874,599 Shares of Lyft, Inc. (NASDAQ:LYFT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,178,280 shares of the ride-sharing company's stock after selling 5,874,599 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 2.94% of Lyft worth $157,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft in the fourth quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft in the fourth quarter worth $29,000. Byrne Asset Management LLC acquired a new stake in shares of Lyft in the fourth quarter worth $35,000. Plato Investment Management Ltd acquired a new stake in shares of Lyft in the fourth quarter worth $35,000. Finally, 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 buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ:LYFT opened at $15.99 on Friday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 266.50, a P/E/G ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 1-year low of $8.93 and a 1-year 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. The business has a 50-day moving average price of $12.69 and a two-hundred day moving average price of $13.78.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business's revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. This represents a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares of the company's stock, valued at approximately $11,948,227.65. This trade represents a 2.31% decrease in their ownership of the stock. 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 ninety days. 3.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. UBS Group lifted their price target on shares of Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Bank of America downgraded shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price target on the stock. in a research note on Thursday, April 3rd. Citigroup reiterated an "overweight" rating on shares of Lyft in a research note on Wednesday, February 12th. Finally, Susquehanna lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.

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