Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in Lyft, Inc. (NASDAQ:LYFT)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Lyft, Inc. (NASDAQ:LYFTGet Rating) by 32.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,911 shares of the ride-sharing company’s stock after purchasing an additional 39,810 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lyft were worth $2,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. MCF Advisors LLC purchased a new stake in Lyft in the 1st quarter worth approximately $25,000. Elequin Capital LP purchased a new stake in shares of Lyft during the 1st quarter valued at $26,000. Fifth Third Bancorp raised its position in shares of Lyft by 261.7% during the 2nd quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,696 shares in the last quarter. Hanson & Doremus Investment Management purchased a new stake in shares of Lyft during the 2nd quarter valued at $35,000. Finally, Activest Wealth Management raised its position in shares of Lyft by 139.9% during the 2nd quarter. Activest Wealth Management now owns 2,744 shares of the ride-sharing company’s stock valued at $36,000 after buying an additional 1,600 shares in the last quarter. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Atlantic Securities lowered their price objective on shares of Lyft to $14.00 in a research report on Tuesday, November 15th. Tigress Financial lowered their price objective on shares of Lyft from $82.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Cowen decreased their target price on shares of Lyft from $42.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 8th. Credit Suisse Group decreased their target price on shares of Lyft from $46.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Finally, Loop Capital reiterated a “buy” rating and issued a $31.00 target price on shares of Lyft in a research report on Friday, September 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average price target of $28.21.

Lyft Trading Down 1.2 %

Shares of NASDAQ LYFT opened at $11.21 on Friday. Lyft, Inc. has a 1 year low of $10.60 and a 1 year high of $48.80. The stock has a market cap of $4.05 billion, a P/E ratio of -3.13 and a beta of 1.68. The firm has a 50-day moving average of $13.77 and a 200 day moving average of $15.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.89.

Lyft Profile

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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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