Van ECK Associates Corp Takes Position in Lyft, Inc. (NASDAQ:LYFT)

Van ECK Associates Corp acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 122,090 shares of the ride-sharing company's stock, valued at approximately $1,830,000.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company's stock worth $29,000 after acquiring an additional 1,672 shares in the last quarter. Gables Capital Management Inc. raised its position in shares of Lyft by 129.0% in the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company's stock worth $37,000 after acquiring an additional 2,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company's stock valued at $38,000 after buying an additional 1,567 shares in the last quarter. EMC Capital Management increased its position in Lyft by 283.4% during the 3rd quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company's stock valued at $52,000 after buying an additional 3,696 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in Lyft during the 3rd quarter valued at approximately $60,000. Institutional investors own 83.07% of the company's stock.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 11,867 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the sale, the director now directly owns 346,341 shares of the company's stock, valued at $5,434,090.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the business'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 transaction of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares of the company's stock, valued at $18,688,181.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Logan Green sold 11,867 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now directly owns 346,341 shares in the company, valued at $5,434,090.29. The disclosure for this sale can be found here. Insiders have sold a total of 280,526 shares of company stock valued at $5,358,031 over the last ninety days. 3.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LYFT shares. Truist Financial raised their price objective on Lyft from $15.00 to $18.00 and gave the company a "hold" rating in a research report on Wednesday. BMO Capital Markets raised their price objective on Lyft from $15.00 to $18.00 and gave the company a "market perform" rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on Lyft from $23.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup raised their price objective on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Barclays raised their price objective on Lyft from $17.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.70.

Lyft Price Performance

NASDAQ:LYFT traded down $0.54 on Thursday, reaching $17.24. 12,887,122 shares of the company's stock traded hands, compared to its average volume of 16,567,068. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a 50-day simple moving average of $17.75 and a 200-day simple moving average of $14.58. The firm has a market cap of $6.89 billion, a PE ratio of -36.87 and a beta of 2.05. Lyft, Inc. has a 12 month low of $7.85 and a 12 month high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.14. The business had revenue of $1.22 billion for 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%. Equities research analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

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.