Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,309,681 shares of the ride-sharing company's stock after buying an additional 443,109 shares during the quarter. Geode Capital Management LLC owned 1.52% of Lyft worth $81,419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYFT. Van ECK Associates Corp boosted its holdings in shares of Lyft by 14.0% in the 4th quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock worth $5,146,000 after purchasing an additional 49,138 shares during the period. Pacer Advisors Inc. raised its stake in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the period. Paragon Capital Management Inc. purchased a new position in shares of Lyft during the 4th quarter worth about $1,681,000. KBC Group NV grew its holdings in Lyft by 354.9% during the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock valued at $3,434,000 after purchasing an additional 207,672 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock worth $50,031,000 after purchasing an additional 981,186 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Trading Up 1.3 %

LYFT traded up $0.14 during mid-day trading on Wednesday, hitting $11.03. 4,751,594 shares of the stock were exchanged, compared to its average volume of 15,526,769. The firm's fifty day moving average is $12.23 and its two-hundred day moving average is $13.69. 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 $4.61 billion, a PE ratio of 183.92, a PEG ratio of 1.90 and a beta of 2.13. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

LYFT has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Lyft in a report on Monday, March 24th. Susquehanna reduced their price target on Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company dropped their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. DA Davidson decreased their price target on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Finally, Oppenheimer initiated coverage on shares of Lyft in a report on Wednesday. They issued an "outperform" rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.55.

Insider Buying and Selling at Lyft

In related news, Director Logan Green sold 11,411 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is currently owned by 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.