Russell Investments Group Ltd. Raises Holdings in Lyft, Inc. (NASDAQ:LYFT)

Russell Investments Group Ltd. increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,444,427 shares of the ride-sharing company's stock after acquiring an additional 457,273 shares during the quarter. Russell Investments Group Ltd. owned about 0.35% of Lyft worth $18,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYFT. Norges Bank acquired a new position in shares of Lyft in the 4th quarter valued at $49,599,000. Pacer Advisors Inc. boosted its position in 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 buying an additional 2,302,248 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Lyft by 7,536.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company's stock worth $23,927,000 after buying an additional 1,830,533 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Lyft during the fourth quarter worth $12,900,000. Finally, Trexquant Investment LP grew its position in Lyft by 70.7% during the 4th quarter. Trexquant Investment LP now owns 2,391,574 shares of the ride-sharing company's stock worth $30,851,000 after purchasing an additional 990,662 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the company'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 completion of the sale, the director now directly owns 297,640 shares of the company's stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 in the last three months. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LYFT has been the subject of several recent research reports. Truist Financial reduced their price target on Lyft from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Roth Capital restated a "neutral" rating on shares of Lyft in a research report on Wednesday, February 12th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Monday, March 24th. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Barclays decreased their price objective on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.60.

Lyft Stock Down 0.1 %

Shares of LYFT traded down $0.02 during mid-day trading on Tuesday, reaching $10.86. The company's stock had a trading volume of 2,654,571 shares, compared to its average volume of 15,513,648. 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 12-month low of $8.93 and a 12-month high of $19.34. The stock has a market cap of $4.54 billion, a PE ratio of 181.08, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company's 50 day moving average is $12.29 and its 200 day moving average is $13.71.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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 anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has approved a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board 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.