Vanguard Personalized Indexing Management LLC Raises Stock Position in Lyft, Inc. $LYFT

Key Points

• Vanguard Personalized Indexing Management LLC increased its position in Lyft by 92.2% during the second quarter, bringing its total shares owned to 34,536, valued at $544,000.
• Lyft reported earnings of $0.10 per share for the most recent quarter, missing analyst estimates of $0.27, while revenue was \$1.59 billion, short of the expected \$1.61 billion.
• Corporate insiders are engaged in trading, as CFO Erin Brewer sold 15,000 shares, while CEO John David Risher purchased 5,926 shares at an average price of $16.88.

Vanguard Personalized Indexing Management LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 92.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,536 shares of the ride-sharing company's stock after buying an additional 16,570 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Lyft were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock worth $451,645,000 after buying an additional 2,046,639 shares during the period. Ameriprise Financial Inc. increased its stake 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 buying an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in Lyft during the 1st quarter worth $130,434,000. AQR Capital Management LLC increased its stake in Lyft by 103.3% during the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Finally, Invenomic Capital Management LP increased its stake in Lyft by 75.2% during the 1st quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company's stock worth $42,584,000 after buying an additional 1,539,388 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Trading Up 2.1%

Shares of NASDAQ:LYFT opened at $20.64 on Wednesday. The company has a 50 day moving average of $19.12 and a 200-day moving average of $15.95. The firm has a market cap of $8.39 billion, a P/E ratio of 86.00, a P/E/G ratio of 3.64 and a beta of 2.40. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $23.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. As a group, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares in the company, valued at $9,064,085.16. The trade was a 2.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher bought 5,926 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 74,427 shares of company stock worth $1,252,686 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of Lyft in a research note on Wednesday, September 24th. BMO Capital Markets boosted their target price on shares of Lyft from $16.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, September 18th. Jefferies Financial Group boosted their target price on shares of Lyft from $15.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, September 18th. Sanford C. Bernstein reissued a "market perform" rating and issued a $22.00 target price on shares of Lyft in a research report on Tuesday. Finally, Citigroup reissued a "hold" rating and issued a $14.00 target price (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Lyft currently has an average rating of "Hold" and a consensus price target of $19.25.

About Lyft

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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