Van Berkom & Associates Inc. Purchases New Position in Lyft, Inc. $LYFT

Van Berkom & Associates Inc. acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the third quarter, HoldingsChannel reports. The institutional investor acquired 34,800 shares of the ride-sharing company’s stock, valued at approximately $766,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYFT. Empowered Funds LLC increased its position in Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after purchasing an additional 2,921 shares during the period. Focus Partners Wealth boosted its position in Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after acquiring an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Lyft during the 2nd quarter worth approximately $470,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lyft by 32.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock valued at $83,000 after purchasing an additional 1,304 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Lyft by 11.5% during the second quarter. QRG Capital Management Inc. now owns 30,166 shares of the ride-sharing company’s stock valued at $475,000 after purchasing an additional 3,119 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 2.9%

Shares of Lyft stock opened at $16.76 on Wednesday. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $25.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $19.51 and its 200 day moving average is $19.02. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.93.

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

Analysts Set New Price Targets

LYFT has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Lyft from $20.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. Evercore ISI boosted their target price on Lyft from $15.00 to $30.00 and gave the stock an “in-line” rating in a report on Thursday, November 6th. BMO Capital Markets lifted their price target on Lyft from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. UBS Group reissued a “neutral” rating on shares of Lyft in a research report on Monday. Finally, TD Cowen restated a “buy” rating on shares of Lyft in a research note on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.76.

Insider Buying and Selling

In other Lyft news, CAO Stephen W. Hope sold 4,800 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $107,040.00. Following the transaction, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Prashant Aggarwal sold 96,900 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $2,160,870.00. Following the sale, the director directly owned 874,369 shares of the company’s stock, valued at $19,498,428.70. The trade was a 9.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 187,443 shares of company stock valued at $4,178,618 in the last 90 days. Insiders own 3.07% of the company’s stock.

About Lyft

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.