Allianz Asset Management GmbH Lowers Position in Lyft, Inc. (NASDAQ:LYFT)

Allianz Asset Management GmbH trimmed its stake in Lyft, Inc. (NASDAQ:LYFTFree Report) by 53.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,928 shares of the ride-sharing company’s stock after selling 133,439 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lyft were worth $1,708,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of LYFT. Allworth Financial LP grew its holdings in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the period. a16z Perennial Management L.P. purchased a new stake in Lyft in the fourth quarter valued at approximately $34,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Lyft by 77.5% in 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 during the period. EMC Capital Management grew its holdings in Lyft by 283.4% in the third quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company’s stock valued at $52,000 after purchasing an additional 3,696 shares during the period. Finally, Fred Alger Management LLC acquired a new position in Lyft during the third quarter valued at approximately $60,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYFT. Canaccord Genuity Group reaffirmed a “buy” rating and set a $23.00 price target on shares of Lyft in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, April 8th. Tigress Financial lifted their price target on shares of Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.04.

Read Our Latest Research Report on LYFT

Lyft Stock Down 0.6 %

Shares of NASDAQ:LYFT opened at $15.60 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The company has a fifty day simple moving average of $16.84 and a 200 day simple moving average of $15.57. The firm has a market cap of $6.29 billion, a PE ratio of -33.19 and a beta of 2.09.

Lyft (NASDAQ:LYFTGet Free Report) last released its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, equities research analysts anticipate that Lyft, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the completion of the sale, the president now owns 54,278 shares in the company, valued at $855,964.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the transaction, the chief accounting officer now owns 351,853 shares in the company, valued at $5,513,536.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $15.77, for a total transaction of $102,505.00. Following the transaction, the president now owns 54,278 shares of the company’s stock, valued at approximately $855,964.06. The disclosure for this sale can be found here. Insiders sold a total of 246,033 shares of company stock worth $4,782,237 over the last 90 days. Insiders own 3.07% of the company’s stock.

Lyft Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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