First Trust Advisors LP Has $1.59 Million Position in Lyft, Inc. (NASDAQ:LYFT)

First Trust Advisors LP lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 70.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,366 shares of the ride-sharing company's stock after selling 300,836 shares during the period. First Trust Advisors LP's holdings in Lyft were worth $1,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LYFT. QRG Capital Management Inc. boosted its holdings in shares of Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock valued at $316,000 after acquiring an additional 903 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after buying an additional 970 shares in the last quarter. US Bancorp DE grew its position in shares of Lyft by 2.6% in the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after purchasing an additional 1,045 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,058 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in Lyft by 13.8% in the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock valued at $115,000 after buying an additional 1,080 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Lyft from $20.00 to $17.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. DA Davidson restated a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. Bank of America downgraded Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price target for the company. in a report on Thursday, April 3rd. Cantor Fitzgerald reduced their price target on Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Finally, Evercore ISI dropped their price target on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a research report on Wednesday, February 12th. One research 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 given a strong buy rating to the company's stock. According to MarketBeat, Lyft has a consensus rating of "Hold" and an average price target of $16.47.

Lyft Trading Up 28.0 %

Shares of NASDAQ LYFT traded up $3.64 during trading on Friday, hitting $16.64. 107,237,708 shares of the company traded hands, compared to its average volume of 15,835,941. The company has a 50-day moving average price of $11.84 and a 200-day moving average price of $13.59. The firm has a market capitalization of $6.96 billion, a P/E ratio of 277.33, a P/E/G ratio of 1.90 and a beta of 2.14. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued 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). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the company posted $0.15 EPS. The company's revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

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

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on 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. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 11,411 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,143 shares of company stock worth $486,841. 3.07% of the stock is owned by company insiders.

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.