Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 132.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,517 shares of the ride-sharing company’s stock after purchasing an additional 25,335 shares during the period. Blueshift Asset Management LLC’s holdings in Lyft were worth $574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LYFT. True Wealth Design LLC acquired a new position in shares of Lyft during the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new position in Lyft in the fourth quarter valued at approximately $31,000. Byrne Asset Management LLC acquired a new position in Lyft in the fourth quarter valued at approximately $35,000. Finally, Plato Investment Management Ltd acquired a new position in Lyft in the fourth quarter valued at approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Price Performance

Shares of LYFT opened at $11.75 on Friday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 195.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The firm has a 50-day simple moving average of $13.07 and a 200-day simple moving average of $13.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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 anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of recent analyst reports. Truist Financial decreased their price objective on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Loop Capital cut their price objective on Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Wednesday, February 12th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Finally, BMO Capital Markets cut their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Twenty-six research analysts have rated the stock with 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, the company currently has a consensus rating of “Hold” and an average target price of $17.03.

Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,407 shares of company stock worth $203,778. Company insiders own 3.07% of the company’s stock.

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.