Tenere Capital LLC Purchases New Stake in Lyft, Inc. (NASDAQ:LYFT)

Tenere Capital LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFTGet Rating) in the first quarter, Holdings Channel reports. The fund purchased 49,100 shares of the ride-sharing company’s stock, valued at approximately $3,102,000. Lyft accounts for approximately 1.8% of Tenere Capital LLC’s portfolio, making the stock its 24th biggest position.

Several other institutional investors have also made changes to their positions in LYFT. Baird Financial Group Inc. lifted its position in Lyft by 6.2% in the 4th quarter. Baird Financial Group Inc. now owns 24,628 shares of the ride-sharing company’s stock worth $1,052,000 after buying an additional 1,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Lyft by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 470,562 shares of the ride-sharing company’s stock valued at $20,110,000 after purchasing an additional 8,302 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in Lyft by 162.6% in the fourth quarter. AlphaCrest Capital Management LLC now owns 19,194 shares of the ride-sharing company’s stock valued at $820,000 after purchasing an additional 11,886 shares in the last quarter. Principal Financial Group Inc. increased its position in Lyft by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 37,458 shares of the ride-sharing company’s stock worth $1,601,000 after purchasing an additional 600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Lyft during the 4th quarter worth about $1,208,000. 76.49% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 5.5 %

Lyft stock opened at $18.11 on Friday. The business has a 50 day moving average price of $15.35 and a two-hundred day moving average price of $23.26. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -6.94 and a beta of 1.74. Lyft, Inc. has a 12 month low of $11.96 and a 12 month high of $57.68.

Lyft (NASDAQ:LYFTGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The ride-sharing company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $988.14 million. Lyft had a negative return on equity of 46.36% and a negative net margin of 24.44%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.68) EPS. As a group, equities analysts forecast that Lyft, Inc. will post -1.46 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI lowered their price target on Lyft from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 7th. Tigress Financial cut their price target on shares of Lyft from $82.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 12th. DA Davidson decreased their price objective on shares of Lyft from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 5th. Wedbush cut their target price on Lyft from $32.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. Finally, MKM Partners decreased their price target on Lyft from $32.00 to $17.00 in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.09.

Insider Buying and Selling

In related news, insider Kristin Sverchek sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $18.98, for a total transaction of $246,740.00. Following the completion of the transaction, the insider now owns 70,350 shares in the company, valued at approximately $1,335,243. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.31% of the stock is owned by corporate insiders.

About Lyft

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Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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