Gotham Asset Management LLC Acquires 54,857 Shares of Lyft, Inc. (NASDAQ:LYFT)

Gotham Asset Management LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 438,122 shares of the ride-sharing company's stock after acquiring an additional 54,857 shares during the period. Gotham Asset Management LLC owned 0.11% of Lyft worth $5,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft during the 4th quarter worth $29,000. Plato Investment Management Ltd acquired a new stake in Lyft in the 4th quarter valued at $35,000. Byrne Asset Management LLC acquired a new stake in Lyft in the 4th quarter valued at $35,000. Harbour Investments Inc. increased its holdings in Lyft by 259.7% in the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Lyft in the 4th quarter valued at $41,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Susquehanna increased their price target on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 12th. DA Davidson reaffirmed a "neutral" rating and set a $15.00 price target on shares of Lyft in a research report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and issued a $18.00 target price (down previously from $23.00) on shares of Lyft in a report on Wednesday, February 12th. KeyCorp reissued a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. Finally, Wedbush dropped their price target on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $16.56.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider now directly owns 959,697 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,143 shares of company stock valued at $486,841. Insiders own 3.07% of the company's stock.

Lyft Stock Up 3.3%

Shares of NASDAQ:LYFT traded up $0.54 during trading on Friday, reaching $16.77. 22,236,165 shares of the company traded hands, compared to its average volume of 16,202,514. The firm has a fifty day simple moving average of $12.32 and a 200 day simple moving average of $13.70. The firm has a market cap of $7.01 billion, a P/E ratio of 279.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. 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 (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $0.15 EPS. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. Analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has approved a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding 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 generally an indication that the company's board of directors 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.