International Assets Investment Management LLC Acquires Shares of 43,036 Lyft, Inc. (NASDAQ:LYFT)

International Assets Investment Management LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 43,036 shares of the ride-sharing company’s stock, valued at approximately $645,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV lifted its position in shares of Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after acquiring an additional 814 shares during the period. Arizona State Retirement System lifted its position in shares of Lyft by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 94,693 shares of the ride-sharing company’s stock valued at $998,000 after acquiring an additional 1,291 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Lyft by 5.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock valued at $336,000 after acquiring an additional 1,535 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 1,567 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Lyft by 3.8% during the 3rd quarter. HighTower Advisors LLC now owns 49,804 shares of the ride-sharing company’s stock valued at $524,000 after acquiring an additional 1,801 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total value of $275,327.24. Following the sale, the director now owns 1,204,071 shares in the company, valued at $21,083,283.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,526 shares of company stock valued at $5,195,771. Insiders own 3.16% of the company’s stock.

Analyst Ratings Changes

LYFT has been the subject of a number of research reports. Nomura downgraded shares of Lyft from a “neutral” rating to a “reduce” rating and lifted their price target for the company from $11.70 to $13.00 in a research report on Friday, December 29th. Tigress Financial upped their target price on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. UBS Group upped their target price on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Piper Sandler increased their price target on Lyft from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Citigroup increased their price target on Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.60.

Lyft Stock Down 3.4 %

Shares of NASDAQ LYFT opened at $16.34 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a fifty day moving average price of $17.83 and a 200 day moving average price of $14.18. The company has a market cap of $6.53 billion, a P/E ratio of -18.36 and a beta of 1.98. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Research analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

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.