Jupiter Asset Management Ltd. Has $76.90 Million Stock Holdings in Lyft, Inc. $LYFT

Jupiter Asset Management Ltd. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 29.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,970,279 shares of the ride-sharing company’s stock after purchasing an additional 905,702 shares during the period. Jupiter Asset Management Ltd.’s holdings in Lyft were worth $76,904,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LYFT. International Assets Investment Management LLC bought a new position in shares of Lyft during the fourth quarter worth $40,000. Huntington National Bank lifted its holdings in Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 1,374 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Lyft in the third quarter valued at about $50,000. CI Investments Inc. increased its holdings in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 653 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in shares of Lyft in the third quarter worth about $54,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $354,915.00. Following the transaction, the insider owned 916,022 shares in the company, valued at $13,740,330. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYFT has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Susquehanna reiterated a “neutral” rating and set a $15.00 target price on shares of Lyft in a report on Thursday, February 12th. Jefferies Financial Group dropped their price target on Lyft from $20.00 to $15.50 and set a “hold” rating on the stock in a research note on Wednesday, February 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research report on Wednesday, February 11th. Finally, Roth Mkm reiterated a “buy” rating and issued a $23.00 price objective on shares of Lyft in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Lyft has an average rating of “Hold” and a consensus price target of $18.83.

Lyft Trading Up 0.9%

Lyft stock opened at $13.82 on Friday. The stock has a 50-day simple moving average of $13.73 and a 200 day simple moving average of $16.51. The stock has a market capitalization of $5.25 billion, a P/E ratio of 2.02, a PEG ratio of 0.85 and a beta of 1.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. Analysts expect that Lyft, Inc. will post 0.66 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a share buyback program on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.