Lyft, Inc. (NASDAQ:LYFT) Stock Holdings Lifted by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 722.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,161 shares of the ride-sharing company's stock after purchasing an additional 185,490 shares during the period. Voloridge Investment Management LLC owned approximately 0.05% of Lyft worth $2,724,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LYFT. Renaissance Technologies LLC increased its holdings in Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Lyft by 828.5% in the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company's stock valued at $85,947,000 after purchasing an additional 5,945,000 shares in the last quarter. Two Sigma Investments LP increased its holdings in Lyft by 156.9% in the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company's stock valued at $103,524,000 after purchasing an additional 4,901,358 shares in the last quarter. Norges Bank acquired a new stake in Lyft in the 4th quarter valued at $49,599,000. Finally, Capital World Investors increased its holdings in Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after purchasing an additional 2,240,478 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYFT. BMO Capital Markets lowered their target price on Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Loop Capital lowered their target price on Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. UBS Group raised their target price on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Susquehanna raised their target price on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a research note on Monday, March 17th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.63.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John David Risher bought 6,538 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the acquisition, the chief executive officer now owns 11,791,340 shares of the company's stock, valued at $180,289,588.60. This represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 26,732 shares of company stock valued at $347,159 over the last quarter. Corporate insiders own 3.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.20 during midday trading on Friday, hitting $15.15. 14,053,646 shares of the company's stock were exchanged, compared to its average volume of 16,399,320. 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 stock's 50 day moving average price is $13.16 and its 200-day moving average price is $13.68. The firm has a market cap of $6.33 billion, a P/E ratio of 252.50, a PEG ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07.

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 the consensus estimate of $0.20 by ($0.19). The business 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 business's quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has initiated a stock buyback 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 usually a sign that the company's board believes its shares are undervalued.

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.