Van ECK Associates Corp Purchases Shares of 122,090 Lyft, Inc. (NASDAQ:LYFT)

Van ECK Associates Corp acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, Holdings Channel reports. The firm acquired 122,090 shares of the ride-sharing company’s stock, valued at approximately $1,830,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its position in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 1,672 shares during the period. Gables Capital Management Inc. raised its holdings in Lyft by 129.0% in the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 2,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 1,567 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Lyft by 21.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after purchasing an additional 814 shares during the period. Finally, EMC Capital Management increased its position in Lyft by 283.4% in the third quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company’s stock worth $52,000 after buying an additional 3,696 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 7.1 %

Shares of NASDAQ LYFT opened at $17.78 on Thursday. 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 capitalization of $7.11 billion, a price-to-earnings ratio of -19.98 and a beta of 2.05. The stock has a 50 day moving average price of $17.75 and a 200 day moving average price of $14.58. Lyft, Inc. has a 52-week low of $7.85 and a 52-week high of $20.82.

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

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the sale, the president now owns 60,778 shares in the company, valued at $1,063,615. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the sale, the president now owns 60,778 shares in the company, valued at $1,063,615. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 15,724 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the transaction, the director now directly owns 1,204,071 shares in the company, valued at $21,083,283.21. The disclosure for this sale can be found here. Insiders sold a total of 280,526 shares of company stock worth $5,358,031 over the last 90 days. Company insiders own 3.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LYFT shares. Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, March 5th. DA Davidson upped their price target on Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Barclays upped their target price on shares of Lyft from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, TD Cowen lifted their price target on shares of Lyft from $14.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.52.

Lyft 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.