MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.97 Million Holdings in Lyft, Inc. $LYFT

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Lyft, Inc. (NASDAQ:LYFT) by 52.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342,221 shares of the ride-sharing company’s stock after selling 378,243 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of Lyft worth $3,970,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LYFT. Spurstone Advisory Services LLC acquired a new stake in Lyft during the 4th quarter worth approximately $25,000. GAMMA Investing LLC grew its position in Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after acquiring an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Lyft during the 1st quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft during the 1st quarter worth $35,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock valued at $46,000 after acquiring an additional 1,769 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Up 1.6%

Shares of NASDAQ LYFT opened at $18.62 on Friday. The company has a market capitalization of $7.57 billion, a P/E ratio of 77.59, a price-to-earnings-growth ratio of 2.87 and a beta of 2.33. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50 day moving average price is $15.52 and its 200-day moving average price is $14.22.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company had revenue of $1.59 billion for 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 business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Lyft

In related news, CEO John David Risher acquired 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares in the company, valued at $199,137,850.08. This represents a 0.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the completion of the transaction, the chief financial officer owned 525,759 shares in the company, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,821 shares of company stock valued at $960,566 in the last quarter. 3.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LYFT has been the subject of several recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price target on shares of Lyft in a research report on Thursday, June 5th. Tigress Financial restated a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Canaccord Genuity Group decreased their price target on shares of Lyft from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, August 7th. Citigroup reissued a “hold” rating and issued a $14.00 price target (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th. Finally, Morgan Stanley increased their price target on Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $17.07.

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.