1,000,000 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Groupama Asset Managment

Groupama Asset Managment bought a new position in Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,000,000 shares of the ride-sharing company’s stock, valued at approximately $12,900,000.

Several other hedge funds also recently modified their holdings of the business. Cerity Partners LLC bought a new stake in Lyft during the 3rd quarter valued at approximately $1,057,000. The Manufacturers Life Insurance Company increased its holdings in shares of Lyft by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock worth $1,054,000 after purchasing an additional 1,315 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Lyft by 54.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 135,366 shares of the ride-sharing company’s stock valued at $1,726,000 after buying an additional 47,566 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lyft by 10.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,668 shares of the ride-sharing company’s stock valued at $863,000 after buying an additional 6,249 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Lyft during the third quarter worth about $138,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

LYFT has been the topic of a number of research reports. Loop Capital lowered 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, March 18th. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, January 6th. Susquehanna lowered their target price on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. 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 note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $17.03.

Lyft Stock Performance

LYFT opened at $11.87 on Tuesday. The business has a 50 day moving average of $12.90 and a 200-day moving average of $13.84. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.64. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 197.83, a PEG ratio of 1.90 and a beta of 2.15. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data 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 expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its Board of Directors has authorized a share 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 buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock valued at $203,778 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

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.