Lyft, Inc. (NASDAQ:LYFT) Stake Boosted by Invesco Ltd.

Invesco Ltd. grew its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 583,992 shares of the ride-sharing company's stock after purchasing an additional 62,478 shares during the quarter. Invesco Ltd. owned approximately 0.14% of Lyft worth $7,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. raised its stake in Lyft by 3.8% during the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock worth $316,000 after acquiring an additional 903 shares in the last quarter. Sanctuary Advisors LLC grew its position in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock valued at $363,000 after buying an additional 969 shares during the last quarter. US Bancorp DE increased its stake in Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after buying an additional 1,045 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after acquiring an additional 1,058 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in shares of Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock valued at $115,000 after acquiring an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Trading Down 1.1 %

Lyft stock traded down $0.14 during midday trading on Wednesday, reaching $12.40. The stock had a trading volume of 6,564,900 shares, compared to its average volume of 15,577,963. The stock has a market capitalization of $5.18 billion, a PE ratio of 206.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The stock's 50-day simple moving average is $11.76 and its 200 day simple moving average is $13.61. 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 posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits 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 stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wedbush reduced their price objective on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Monday, March 17th. Evercore ISI cut their price objective on Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and a consensus target price of $16.45.

Insider Buying and Selling at Lyft

In related news, Director Logan Green sold 11,411 shares of the firm's stock in a transaction dated 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 directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock valued at $203,778 over the last three months. 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.