Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 1,142.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 376,202 shares of the ride-sharing company’s stock after buying an additional 345,919 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lyft were worth $5,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lyft by 3.7% during the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares during the period. Norges Bank acquired a new stake in Lyft during the fourth quarter worth about $73,660,000. Clearbridge Investments LLC raised its stake in Lyft by 46.4% during the first quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after acquiring an additional 2,050,430 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Lyft by 5.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after acquiring an additional 300,982 shares during the period. Finally, Morgan Stanley raised its stake in Lyft by 29.1% during the third quarter. Morgan Stanley now owns 5,616,086 shares of the ride-sharing company’s stock worth $59,194,000 after acquiring an additional 1,267,124 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Kristin Sverchek sold 5,670 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is owned by insiders.

Lyft Trading Down 3.9 %

Lyft stock opened at $18.76 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of -21.08 and a beta of 1.98. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $20.82. The firm’s 50 day moving average price is $17.20 and its two-hundred day moving average price is $13.84.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, research analysts predict that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on LYFT. Wedbush restated a “neutral” rating and issued a $15.00 target price (up previously from $14.00) on shares of Lyft in a research report on Wednesday, February 14th. Truist Financial raised their price target on shares of Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Barclays raised their price target on shares of Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler raised their price target on shares of Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $14.52.

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.