Trexquant Investment LP Buys 109,881 Shares of Lyft, Inc. (NASDAQ:LYFT)

Trexquant Investment LP boosted its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 530,644 shares of the ride-sharing company's stock after acquiring an additional 109,881 shares during the quarter. Trexquant Investment LP owned about 0.14% of Lyft worth $7,954,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Lyft by 685.2% in the fourth 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. a16z Perennial Management L.P. purchased a new position in shares of Lyft during the 4th quarter valued at approximately $34,000. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company's stock worth $38,000 after buying an additional 1,567 shares in the last quarter. EMC Capital Management increased its stake in shares of Lyft by 283.4% in the third quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company's stock worth $52,000 after buying an additional 3,696 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Lyft in the third quarter valued at $60,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Price Performance

Shares of LYFT stock traded down $0.06 during midday trading on Tuesday, reaching $16.01. 8,994,798 shares of the company were exchanged, compared to its average volume of 16,109,361. The company's 50 day moving average price is $17.69 and its two-hundred day moving average price is $15.09. The company has a market cap of $6.40 billion, a P/E ratio of -34.06 and a beta of 2.05. Lyft, Inc. has a 12 month low of $7.85 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.

Insider Activity at Lyft

In other news, President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.30, for a total transaction of $105,950.00. Following the transaction, the president now directly owns 100,478 shares in the company, valued at approximately $1,637,791.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Kristin Sverchek sold 6,500 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.30, for a total value of $105,950.00. Following the sale, the president now directly owns 100,478 shares in the company, valued at approximately $1,637,791.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,871,728.00. Following the sale, the director now owns 932,544 shares of the company's stock, valued at $18,688,181.76. The disclosure for this sale can be found here. Insiders have sold 259,132 shares of company stock worth $4,997,540 over the last quarter. 3.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Lyft from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, May 9th. UBS Group increased their target price on Lyft from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Piper Sandler lifted their price objective on shares of Lyft from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Wednesday, May 8th. Finally, DA Davidson raised their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lyft currently has an average rating of "Hold" and a consensus price target of $16.70.

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.