Lecap Asset Management Ltd. Makes New $1.35 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Lecap Asset Management Ltd. bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 90,095 shares of the ride-sharing company's stock, valued at approximately $1,351,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LYFT. Norges Bank purchased a new stake in shares of Lyft during the 4th quarter valued at approximately $73,660,000. Two Sigma Advisers LP lifted its stake in Lyft by 2,804.1% in the 1st quarter. Two Sigma Advisers LP now owns 3,235,135 shares of the ride-sharing company's stock worth $29,990,000 after purchasing an additional 3,123,735 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Lyft in the 1st quarter worth approximately $24,854,000. Clearbridge Investments LLC increased its holdings in shares of Lyft by 46.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company's stock worth $248,485,000 after buying an additional 2,050,430 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Lyft by 1,032.8% in the 1st quarter. Two Sigma Investments LP now owns 1,647,095 shares of the ride-sharing company's stock worth $15,269,000 after buying an additional 1,501,695 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Lyft from a "buy" rating to a "neutral" rating and increased their price target for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. TD Cowen raised their target price on shares of Lyft from $10.00 to $12.00 and gave the stock a "market perform" rating in a research report on Monday, January 22nd. Argus raised shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Lyft from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. Finally, UBS Group lifted their price target on shares of Lyft from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.52.

Lyft Stock Down 3.9 %

NASDAQ:LYFT traded down $0.76 during midday trading on Friday, hitting $18.76. 7,519,680 shares of the company were exchanged, compared to its average volume of 12,883,365. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $7.50 billion, a PE ratio of -21.08 and a beta of 1.98. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The company has a fifty day simple moving average of $17.20 and a 200 day simple moving average of $13.82.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities analysts anticipate that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 193,200 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Kristin Sverchek sold 5,670 shares of the firm's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Insiders sold 270,526 shares of company stock valued at $5,195,771 over the last 90 days. Corporate insiders own 3.16% of the company's stock.

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.