American Century Companies Inc. Grows Stake in Lyft, Inc. (NASDAQ:LYFT)

American Century Companies Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 335.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,614 shares of the ride-sharing company’s stock after purchasing an additional 79,062 shares during the quarter. American Century Companies Inc.’s holdings in Lyft were worth $1,324,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LYFT. Pacer Advisors Inc. lifted its position in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company’s stock valued at $50,031,000 after buying an additional 981,186 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Lyft by 25.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,290,461 shares of the ride-sharing company’s stock valued at $29,547,000 after buying an additional 468,735 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Lyft by 7,536.2% during the fourth 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 buying an additional 1,830,533 shares during the period. Finally, Swiss National Bank boosted its position in Lyft by 2.4% during the fourth quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company’s stock worth $9,680,000 after acquiring an additional 17,900 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Activity

In related 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 value of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 in the last three months. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent analyst reports. Wedbush lowered their price objective on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Roth Capital reiterated a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Susquehanna decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.60.

Lyft Price Performance

Shares of LYFT stock opened at $10.93 on Friday. The company’s 50-day simple moving average is $12.40 and its two-hundred day simple moving average is $13.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.55. The company has a market capitalization of $4.57 billion, a P/E ratio of 182.17, a P/E/G ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT) last issued 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 net margin of 0.39% and a return on equity of 8.03%. As a group, equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.