Sherbrooke Park Advisers LLC Boosts Holdings in Lyft, Inc. (NASDAQ:LYFT)

Sherbrooke Park Advisers LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,105 shares of the ride-sharing company's stock after purchasing an additional 31,500 shares during the period. Lyft accounts for 0.5% of Sherbrooke Park Advisers LLC's portfolio, making the stock its 14th largest position. Sherbrooke Park Advisers LLC's holdings in Lyft were worth $1,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Point72 Italy S.r.l. bought a new position in shares of Lyft during the fourth quarter valued at approximately $2,450,000. Quantinno Capital Management LP bought a new position in shares of Lyft during the fourth quarter valued at approximately $157,000. Nuveen Asset Management LLC increased its position in shares of Lyft by 8.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,458,557 shares of the ride-sharing company's stock valued at $18,815,000 after acquiring an additional 109,434 shares in the last quarter. Numerai GP LLC bought a new stake in shares of Lyft during the fourth quarter valued at approximately $135,000. Finally, Maven Securities LTD bought a new stake in shares of Lyft during the fourth quarter valued at approximately $161,000. Institutional investors own 83.07% of the company's stock.

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares of the company's stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock worth $486,841 in the last three months. Corporate insiders own 3.07% of the company's stock.

Lyft Trading Down 0.1%

LYFT stock traded down $0.01 during mid-day trading on Monday, reaching $16.76. The company had a trading volume of 10,478,132 shares, compared to its average volume of 16,196,818. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The company has a market capitalization of $7.01 billion, a PE ratio of 279.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The firm has a 50 day moving average of $12.32 and a 200 day moving average of $13.71. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. Lyft's revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages recently weighed in on LYFT. Evercore ISI reduced their price target on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a research report on Wednesday, February 12th. Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price on the stock. in a report on Thursday, April 3rd. Cantor Fitzgerald dropped their target price on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Truist Financial dropped their target price on shares of Lyft from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. Finally, Barclays raised their target price on shares of Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $16.56.

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.