Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Lyft, Inc. (NASDAQ:LYFT) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,221 shares of the ride-sharing company’s stock after selling 2,648 shares during the quarter. Corient Private Wealth LLC’s holdings in Lyft were worth $209,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. boosted its holdings in Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after acquiring an additional 2,838,000 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Lyft by 7,536.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock valued at $23,927,000 after purchasing an additional 1,830,533 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Lyft during the 3rd quarter worth approximately $13,430,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,407 shares of company stock valued at $203,778. Company insiders own 3.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LYFT shares. Evercore ISI reduced their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. KeyCorp restated a “sector weight” rating on shares of Lyft in a report on Wednesday, March 26th. Cantor Fitzgerald decreased their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. DA Davidson cut their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, BMO Capital Markets decreased their target price on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average price target of $17.03.

Lyft Trading Up 3.0 %

NASDAQ:LYFT opened at $12.23 on Wednesday. The company has a market cap of $5.11 billion, a PE ratio of 203.83, a P/E/G ratio of 1.90 and a beta of 2.15. The business’s 50 day moving average is $12.88 and its two-hundred day moving average is $13.84. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.55.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.