Leonteq Securities AG purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,837 shares of the ride-sharing company’s stock, valued at approximately $1,198,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Lyft by 7.4% during the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after acquiring an additional 1,773,438 shares in the last quarter. Swedbank AB bought a new stake in shares of Lyft during the fourth quarter valued at approximately $108,472,000. Jacobs Levy Equity Management Inc. increased its position in shares of Lyft by 1.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,914,553 shares of the ride-sharing company’s stock valued at $108,169,000 after acquiring an additional 84,375 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lyft by 9.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,336,110 shares of the ride-sharing company’s stock valued at $95,459,000 after acquiring an additional 381,461 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Lyft by 3.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,637,903 shares of the ride-sharing company’s stock valued at $80,070,000 after acquiring an additional 116,251 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on LYFT shares. Royal Bank Of Canada reduced their price target on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Mizuho cut their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research report on Wednesday, February 11th. Roth Mkm reaffirmed a “buy” rating and issued a $23.00 target price on shares of Lyft in a research report on Friday, May 8th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Lyft in a research report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.83.
Insider Activity
In other news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $354,915.00. Following the completion of the sale, the insider owned 916,022 shares of the company’s stock, valued at $13,740,330. The trade was a 2.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.89, for a total transaction of $29,071.77. Following the transaction, the director owned 32,185 shares in the company, valued at approximately $447,049.65. This trade represents a 6.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,699 shares of company stock valued at $771,756 in the last 90 days. Company insiders own 0.92% of the company’s stock.
Lyft Trading Up 1.0%
NASDAQ:LYFT opened at $13.48 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a market cap of $5.12 billion, a PE ratio of 1.97, a price-to-earnings-growth ratio of 0.83 and a beta of 1.84. The company has a 50 day simple moving average of $13.69 and a two-hundred day simple moving average of $16.76.
Lyft (NASDAQ:LYFT – Get Free Report) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts forecast that Lyft, Inc. will post 0.66 earnings per share for the current year.
Lyft announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to reacquire up to 15.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Lyft News Roundup
Here are the key news stories impacting Lyft this week:
- Positive Sentiment: RBC said Lyft remains on “stable competitive footing,” suggesting the company still has a defensible position even as investors worry about slower U.S. ride growth. Lyft’s Competitive Position Remains Stable Despite Growth Concerns, RBC Says
- Neutral Sentiment: Lyft and Waymo are preparing to expand autonomous vehicle operations in Nashville, which could support long-term growth if the rollout goes smoothly. Lyft Fraud Scare And Nashville AV Rollout Test Investor Confidence
- Negative Sentiment: Multiple reports say a Lyft driver used AI-generated images to falsely claim damage fees from riders, including a $75 charge, which raises concerns about fraud prevention, rider protection, and Lyft’s ability to police misconduct on its platform. Lyft driver caught using fake AI damage photos to charge Boca Raton dad a fee
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.
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