AXQ Capital LP Has $433,000 Position in Lyft, Inc. (NASDAQ:LYFT)

AXQ Capital LP lowered its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 69.5% in the fourth quarter, Holdings Channel reports. The firm owned 33,602 shares of the ride-sharing company’s stock after selling 76,722 shares during the period. AXQ Capital LP’s holdings in Lyft were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LYFT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 valued at $230,174,000 after buying an additional 80,675 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after purchasing an additional 1,735,208 shares during the last quarter. Maple Rock Capital Partners Inc. increased its stake in shares of Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Lyft by 33.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company’s stock worth $50,031,000 after purchasing an additional 981,186 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction dated Thursday, February 27th. The stock was 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 directly 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 can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company’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 transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,407 shares of company stock valued at $203,778. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial dropped their price target on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Susquehanna reduced their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. DA Davidson dropped their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Evercore ISI reduced their target price on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $17.03.

Lyft Trading Up 2.0 %

LYFT stock opened at $11.98 on Friday. The business has a fifty day moving average price of $13.05 and a 200 day moving average price of $13.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.40. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 199.67, a P/E/G ratio of 1.90 and a beta of 2.15.

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 analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.