Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Mirae Asset Global Investments Co. Ltd. lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 1,142.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 376,202 shares of the ride-sharing company's stock after purchasing an additional 345,919 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Lyft worth $5,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Lyft by 35.0% in the first quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company's stock valued at $410,000 after buying an additional 2,768 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Lyft by 26.3% in the first quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company's stock worth $1,142,000 after acquiring an additional 6,200 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Lyft during the first quarter worth approximately $731,000. Panagora Asset Management Inc. bought a new stake in shares of Lyft during the first quarter valued at approximately $206,000. Finally, APG Asset Management N.V. increased its holdings in shares of Lyft by 8.9% in the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company's stock valued at $421,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Activity at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now owns 633,950 shares of the company's stock, valued at $9,521,929. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 270,526 shares of company stock valued at $5,195,771. 3.16% of the stock is owned by insiders.

Lyft Stock Down 4.2 %

Shares of NASDAQ:LYFT traded down $0.78 during midday trading on Monday, reaching $17.98. 8,785,695 shares of the company were exchanged, compared to its average volume of 17,060,355. The firm has a market cap of $7.19 billion, a PE ratio of -20.20 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 stock has a fifty day simple moving average of $17.20 and a two-hundred day simple moving average of $13.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT - Get Free Report) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. As a group, sell-side analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on LYFT. The Goldman Sachs Group lowered Lyft from a "buy" rating to a "neutral" rating and increased their price objective for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. Royal Bank of Canada raised Lyft from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $17.00 to $23.00 in a report on Monday, March 4th. Nomura lowered shares of Lyft from a "neutral" rating to a "reduce" rating and raised their target price for the company from $11.70 to $13.00 in a research note on Friday, December 29th. TD Cowen boosted their price target on shares of Lyft from $10.00 to $12.00 and gave the stock a "market perform" rating in a research note on Monday, January 22nd. Finally, Citigroup increased their price objective on shares of Lyft from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.52.

Lyft Company 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.