Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,045 shares of the ride-sharing company’s stock after buying an additional 4,087 shares during the quarter. Xponance Inc.’s holdings in Lyft were worth $555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LYFT. Maple Rock Capital Partners Inc. increased its stake in shares of Lyft by 84.8% during the 3rd 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 in the last quarter. Pacer Advisors Inc. grew its holdings in Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Lyft by 7,536.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after buying an additional 1,830,533 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 worth $103,456,000 after acquiring an additional 1,735,208 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Lyft in the third quarter valued at $13,430,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the company’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 transaction, the director now directly owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now directly 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. In the last three months, insiders sold 15,407 shares of company stock valued at $203,778. Corporate insiders own 3.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $12.49 on Wednesday. The firm has a market cap of $5.22 billion, a P/E ratio of 208.17, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. 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, Inc. has a 1 year low of $8.93 and a 1 year high of $20.37. The stock has a 50-day simple moving average of $13.02 and a 200-day simple moving average of $13.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has approved a stock buyback plan on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Monday. Wedbush reduced their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. DA Davidson decreased their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Bank of America boosted their price target on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $17.03.

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.