Worldquant Millennium Advisors LLC Acquires 299,962 Shares of Lyft, Inc. (NASDAQ:LYFT)

Worldquant Millennium Advisors LLC raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 865.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 334,629 shares of the ride-sharing company's stock after buying an additional 299,962 shares during the period. Worldquant Millennium Advisors LLC owned about 0.08% of Lyft worth $4,317,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LYFT. Park Avenue Securities LLC bought a new stake in Lyft during the fourth quarter valued at $388,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Lyft by 10,225.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company's stock valued at $5,475,000 after acquiring an additional 420,274 shares during the period. KBC Group NV grew its holdings in Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock worth $3,434,000 after purchasing an additional 207,672 shares during the period. Pacer Advisors Inc. grew its stake in shares of Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after buying an additional 2,302,248 shares during the period. Finally, Smith Group Asset Management LLC bought a new stake in shares of Lyft during the fourth quarter valued at approximately $280,000. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LYFT shares. Wells Fargo & Company decreased their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Barclays increased their target price on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Morgan Stanley decreased their price objective on Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Loop Capital lowered their target price on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $16.63.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the firm'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 completion of the sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider now owns 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,143 shares of company stock worth $486,841. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Down 3.4%

Shares of NASDAQ:LYFT opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a market cap of $6.68 billion, a PE ratio of 266.17, a P/E/G ratio of 1.90 and a beta of 2.14. The stock's 50-day moving average is $12.61 and its 200 day moving average is $13.76.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is 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.

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