Susquehanna Fundamental Investments LLC Takes $806,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 62,474 shares of the ride-sharing company's stock, valued at approximately $806,000.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after acquiring an additional 6,365,727 shares in the last quarter. Norges Bank acquired a new position in Lyft during the 4th quarter worth approximately $49,599,000. Pacer Advisors Inc. raised its position in Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the last quarter. Capital World Investors lifted its position in shares of Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock valued at $87,404,000 after acquiring an additional 2,240,478 shares during the period. Finally, Marshall Wace LLP grew its position in Lyft by 274.6% during the fourth quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company's stock valued at $38,175,000 after acquiring an additional 2,169,255 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Trading Up 2.3 %

LYFT stock traded up $0.29 during midday trading on Thursday, reaching $12.88. The company's stock had a trading volume of 4,506,983 shares, compared to its average volume of 15,456,991. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 214.67, a PEG ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The stock has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $13.58.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, equities research analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. DA Davidson reaffirmed a "neutral" rating and set a $15.00 price target on shares of Lyft in a report on Wednesday, April 16th. Susquehanna dropped their price target on Lyft from $18.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price target on the stock. in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.45.

Insider Activity

In related news, Director Logan Green sold 11,411 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,143 shares of company stock valued at $486,841. 3.07% of the stock is owned by company insiders.

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.