Lyft, Inc. (NASDAQ:LYFT) Stock Holdings Boosted by Bayesian Capital Management LP

Bayesian Capital Management LP boosted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,900 shares of the ride-sharing company's stock after purchasing an additional 34,700 shares during the quarter. Bayesian Capital Management LP's holdings in Lyft were worth $1,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYFT. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft during the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in Lyft during the 4th quarter valued at $31,000. Plato Investment Management Ltd acquired a new position in Lyft during the 4th quarter worth $35,000. Byrne Asset Management LLC acquired a new position in Lyft during the 4th quarter worth $35,000. Finally, Harbour Investments Inc. grew its stake in shares of Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after purchasing an additional 2,000 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

LYFT opened at $12.65 on Monday. The stock has a fifty day moving average price of $11.76 and a 200 day moving average price of $13.60. 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, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 210.83, a PEG ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last announced 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%. Analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its board has approved a share buyback plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Lyft

In other news, Director Logan Green sold 11,411 shares of the 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 transaction, the director now owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm'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 $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,143 shares of company stock worth $486,841 in the last 90 days. 3.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Benchmark raised shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Monday, January 6th. Wedbush reduced their price target on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Bank of America lowered shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective on the stock. in a research note on Thursday, April 3rd. KeyCorp reissued a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. Finally, Susquehanna decreased their price target on Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lyft has a consensus rating of "Hold" and an average price target of $16.45.

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.

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