Lyft, Inc. $LYFT Shares Bought by XTX Topco Ltd

XTX Topco Ltd raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 48.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 73,244 shares of the ride-sharing company’s stock after buying an additional 23,869 shares during the period. XTX Topco Ltd’s holdings in Lyft were worth $1,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew 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 worth $31,000 after acquiring an additional 1,203 shares during the period. Atwood & Palmer Inc. acquired a new position in Lyft in the second quarter valued at approximately $32,000. Bogart Wealth LLC boosted its position in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares in the last quarter. SRH Advisors LLC acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of Lyft stock opened at $21.02 on Friday. The stock has a market capitalization of $8.39 billion, a P/E ratio of 55.32, a PEG ratio of 2.09 and a beta of 2.36. The business has a 50 day simple moving average of $21.10 and a two-hundred day simple moving average of $17.73. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares of the company’s stock, valued at $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the sale, the chief financial officer owned 525,759 shares of the company’s stock, valued at $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LYFT shares. Roth Capital set a $25.00 target price on shares of Lyft and gave the company a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley lifted their price objective on shares of Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a report on Thursday, September 11th. TD Cowen upped their price objective on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Royal Bank Of Canada increased their target price on shares of Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Barclays lifted their price target on Lyft from $20.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.85.

About Lyft

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.