Vinva Investment Management Ltd Purchases 13,772 Shares of Lyft, Inc. $LYFT

Vinva Investment Management Ltd increased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 122.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,042 shares of the ride-sharing company’s stock after purchasing an additional 13,772 shares during the quarter. Vinva Investment Management Ltd’s holdings in Lyft were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake 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 buying an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Lyft during the 2nd quarter valued at $32,000. Bogart Wealth LLC boosted its stake in Lyft by 1,242.2% in the second 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 bought a new stake in shares of Lyft during the second quarter worth $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Lyft in the second quarter valued at $62,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 4.3%

NASDAQ LYFT opened at $21.02 on Friday. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $25.54. The stock has a 50-day simple moving average of $21.10 and a 200 day simple moving average of $17.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $8.39 billion, a PE ratio of 55.32, a P/E/G ratio of 2.09 and a beta of 2.36.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Benchmark reaffirmed a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. Canaccord Genuity Group increased their price target on shares of Lyft from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lyft from $21.00 to $25.00 and gave the company a “hold” rating in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.85.

Insider Activity at Lyft

In other news, CEO John David Risher bought 5,926 shares of the stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction on Monday, September 15th. The stock was 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 in the company, valued at approximately $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.07% of the company’s stock.

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.