Swiss National Bank Buys 36,800 Shares of Lyft, Inc. (NASDAQ:LYFT)

Swiss National Bank grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,200 shares of the ride-sharing company’s stock after acquiring an additional 36,800 shares during the period. Swiss National Bank owned 0.19% of Lyft worth $9,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LYFT. Alliancebernstein L.P. raised its stake in shares of Lyft by 53.9% in the fourth quarter. Alliancebernstein L.P. now owns 120,562 shares of the ride-sharing company’s stock worth $1,555,000 after acquiring an additional 42,218 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Lyft by 49.4% in the fourth quarter. Cerity Partners LLC now owns 123,888 shares of the ride-sharing company’s stock worth $1,597,000 after acquiring an additional 40,990 shares during the last quarter. Invesco Ltd. raised its stake in shares of Lyft by 12.0% in the fourth quarter. Invesco Ltd. now owns 583,992 shares of the ride-sharing company’s stock worth $7,533,000 after acquiring an additional 62,478 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Lyft in the fourth quarter worth about $243,000. Finally, Treasurer of the State of North Carolina raised its stake in shares of Lyft by 2.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 161,565 shares of the ride-sharing company’s stock worth $2,084,000 after acquiring an additional 3,830 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

NASDAQ LYFT opened at $15.82 on Friday. The business has a 50 day simple moving average of $14.94 and a 200 day simple moving average of $13.77. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 65.92, a PEG ratio of 2.39 and a beta of 2.26.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LYFT. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Friday, May 9th. Sanford C. Bernstein upped their target price on shares of Lyft from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Barclays raised their target price on shares of Lyft from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Tigress Financial reaffirmed a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average price target of $16.70.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the sale, the director directly owned 879,498 shares of the company’s stock, valued at approximately $13,896,068.40. This represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John David Risher bought 6,538 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer owned 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their position. The disclosure for this purchase can be found here. 3.07% of the stock is owned by company insiders.

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.