473,780 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 473,780 shares of the ride-sharing company’s stock, valued at approximately $6,112,000.

Several other large investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lyft by 0.4% in the third 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. lifted its position in shares of Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares during the last quarter. Primecap Management Co. CA boosted its stake 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 valued at $82,768,000 after purchasing an additional 235,510 shares during the period. Finally, Maple Rock Capital Partners Inc. grew its holdings 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 last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now 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. In the last 90 days, insiders sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by company insiders.

Lyft Stock Performance

LYFT opened at $11.27 on Friday. The firm has a fifty day moving average price of $13.28 and a 200 day moving average price of $13.76. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The stock has a market cap of $4.71 billion, a P/E ratio of 187.83, a P/E/G ratio of 1.90 and a beta of 2.15. 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 (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 analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding 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 often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYFT. BMO Capital Markets decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald lowered their price target on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Tigress Financial raised their price objective on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. decreased their target price on Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Roth Capital reissued a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Twenty-six research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.13.

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.