KBC Group NV Sells 249,518 Shares of Lyft, Inc. (NASDAQ:LYFT)

KBC Group NV lowered its position in Lyft, Inc. (NASDAQ:LYFT) by 93.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,667 shares of the ride-sharing company’s stock after selling 249,518 shares during the period. KBC Group NV’s holdings in Lyft were worth $198,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LYFT. Proficio Capital Partners LLC bought a new position in shares of Lyft in the fourth quarter valued at approximately $176,000. US Bancorp DE raised its stake in shares of Lyft by 2.6% in the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after acquiring an additional 1,045 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Lyft by 50.9% in the fourth quarter. Jones Financial Companies Lllp now owns 15,514 shares of the ride-sharing company’s stock valued at $200,000 after acquiring an additional 5,234 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Lyft by 45.7% in the fourth quarter. Victory Capital Management Inc. now owns 175,488 shares of the ride-sharing company’s stock valued at $2,264,000 after acquiring an additional 55,045 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Lyft by 9.3% in the fourth quarter. M&T Bank Corp now owns 21,634 shares of the ride-sharing company’s stock valued at $280,000 after acquiring an additional 1,844 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Insider Activity

In related news, Director Jill Beggs sold 1,572 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the transaction, the director owned 20,467 shares in the company, valued at approximately $335,863.47. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the transaction, the director owned 879,498 shares in the company, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,732 shares of company stock valued at $347,159 in the last 90 days. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of Lyft in a report on Friday, May 9th. Loop Capital lowered their price target on shares of Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Lyft from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Bank of America lowered shares of Lyft from a “buy” rating to an “underperform” rating and set a $10.50 target price for the company. in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.64.

Lyft Trading Up 2.4%

Shares of NASDAQ:LYFT opened at $16.09 on Monday. The company’s 50-day moving average price is $15.21 and its two-hundred day moving average price is $13.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The stock has a market capitalization of $6.72 billion, a PE ratio of 107.23, a price-to-earnings-growth ratio of 3.17 and a beta of 2.20.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities analysts forecast that Lyft, Inc. will post 0.22 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.