Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 194.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 502,563 shares of the ride-sharing company's stock after acquiring an additional 331,792 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.12% of Lyft worth $6,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Lyft by 60.9% in the fourth quarter. AQR Capital Management LLC now owns 4,823,906 shares of the ride-sharing company's stock worth $62,228,000 after purchasing an additional 1,825,761 shares during the period. Northern Trust Corp boosted its stake in Lyft by 18.0% during the 4th quarter. Northern Trust Corp now owns 1,951,636 shares of the ride-sharing company's stock valued at $25,176,000 after purchasing an additional 297,961 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Lyft by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock worth $1,081,000 after buying an additional 1,132 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in Lyft by 285.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 98,952 shares of the ride-sharing company's stock valued at $1,276,000 after buying an additional 73,299 shares in the last quarter. Finally, Aquatic Capital Management LLC grew its holdings in Lyft by 141.8% during the fourth quarter. Aquatic Capital Management LLC now owns 624,741 shares of the ride-sharing company's stock worth $8,059,000 after acquiring an additional 366,341 shares during the period. Institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LYFT shares. Morgan Stanley reduced their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Lyft from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Loop Capital lowered their price target on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company reduced their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Oppenheimer initiated coverage on Lyft in a research note on Wednesday, April 16th. They set an "outperform" rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $16.45.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value 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 approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now 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 have sold 15,407 shares of company stock valued at $203,778 in the last 90 days. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

NASDAQ LYFT opened at $12.46 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 207.67, a P/E/G ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $11.76 and a 200 day simple moving average of $13.60.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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%. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

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.

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