Assenagon Asset Management S.A. Purchases Shares of 311,679 Lyft, Inc. $LYFT

Assenagon Asset Management S.A. purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 311,679 shares of the ride-sharing company’s stock, valued at approximately $4,912,000. Assenagon Asset Management S.A. owned 0.07% of Lyft as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares during the period. Atwood & Palmer Inc. bought a new stake in Lyft during the second quarter valued at about $32,000. GAMMA Investing LLC raised its holdings in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after acquiring an additional 1,237 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft during the first quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new stake in Lyft during the first quarter valued at about $35,000. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John David Risher bought 5,926 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were acquired 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 of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 74,427 shares of company stock worth $1,252,686 over the last 90 days. Company insiders own 3.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYFT. UBS Group raised their price objective on Lyft from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Lyft from $16.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Sanford C. Bernstein raised their price objective on Lyft from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Canaccord Genuity Group raised their price objective on Lyft from $11.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Finally, Bank of America raised their price objective on Lyft from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, September 18th. Ten 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.84.

Lyft Trading Down 0.1%

LYFT opened at $22.06 on Thursday. The firm has a market cap of $8.97 billion, a P/E ratio of 91.92, a P/E/G ratio of 3.46 and a beta of 2.33. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $23.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $16.55 and a 200 day moving average of $14.73.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current 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.