73,435 Shares in Lyft, Inc. (NASDAQ:LYFT) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 73,435 shares of the ride-sharing company’s stock, valued at approximately $936,000.

Other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after buying an additional 80,675 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Lyft in the third quarter worth $90,604,000. Primecap Management Co. CA raised its holdings in shares of Lyft by 3.8% during the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after purchasing an additional 235,510 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after purchasing an additional 812,926 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Lyft by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after purchasing an additional 167,400 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,990 shares of company stock worth $317,333. Company insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LYFT. Wedbush reissued a “neutral” rating and issued a $20.00 price objective (up previously from $12.00) on shares of Lyft in a report on Thursday, November 7th. Loop Capital decreased their price target on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Raymond James initiated coverage on shares of Lyft in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. BMO Capital Markets boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada dropped their price target on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.55.

Lyft Trading Up 1.0 %

Shares of LYFT stock opened at $17.36 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company’s 50-day moving average price is $14.70 and its 200-day moving average price is $13.56. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of -108.50, a PEG ratio of 5.04 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. As a group, equities analysts predict that Lyft, Inc. will post 0.08 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.