Lyft, Inc. (NASDAQ:LYFT) Shares Bought by US Bancorp DE

US Bancorp DE raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 19.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 49,785 shares of the ride-sharing company’s stock after buying an additional 8,246 shares during the period. US Bancorp DE’s holdings in Lyft were worth $591,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LYFT. Jacobs Levy Equity Management Inc. grew its stake in shares of Lyft by 15.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after purchasing an additional 1,224,056 shares during the period. Two Sigma Investments LP boosted its holdings in Lyft by 156.9% during the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock worth $103,524,000 after buying an additional 4,901,358 shares in the last quarter. Capital World Investors grew its position in Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock valued at $87,404,000 after buying an additional 2,240,478 shares during the period. Two Sigma Advisers LP grew its position in Lyft by 828.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company’s stock valued at $85,947,000 after buying an additional 5,945,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Lyft by 60.9% in the fourth quarter. AQR Capital Management LLC now owns 4,823,906 shares of the ride-sharing company’s stock valued at $62,228,000 after buying an additional 1,825,761 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of Lyft stock opened at $13.46 on Tuesday. The business’s 50 day moving average price is $14.99 and its 200 day moving average price is $13.75. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 56.09, a PEG ratio of 2.93 and a beta of 2.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. Lyft, Inc. has a one year low of $9.53 and a one year high of $19.07.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. On average, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LYFT shares. Morgan Stanley lowered their target price on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Roth Capital raised Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, August 7th. Wall Street Zen raised Lyft from a “buy” rating to a “strong-buy” rating in a report on Saturday. Oppenheimer reduced their target price on Lyft from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, Wells Fargo & Company increased their target price on Lyft from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus target price of $16.70.

Insider Buying and Selling

In other news, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the purchase, the chief executive officer directly owned 11,791,340 shares of the company’s stock, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’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 $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is owned by company insiders.

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.