Pacer Advisors Inc. Acquires 2,302,248 Shares of Lyft, Inc. (NASDAQ:LYFT)

Pacer Advisors Inc. lifted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 32.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,408,466 shares of the ride-sharing company’s stock after acquiring an additional 2,302,248 shares during the period. Pacer Advisors Inc.’s holdings in Lyft were worth $121,369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LYFT. Maple Rock Capital Partners Inc. raised its position in Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after purchasing an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after buying an additional 1,735,208 shares during the period. Point72 Asset Management L.P. bought a new stake in Lyft in the third quarter worth $13,430,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Lyft by 10,225.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock worth $5,475,000 after buying an additional 420,274 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Lyft during the second quarter worth $3,349,000. Institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

NASDAQ LYFT opened at $13.80 on Monday. The firm’s fifty day simple moving average is $14.76 and its two-hundred day simple moving average is $13.41. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned ($0.02) EPS. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, sell-side analysts expect that Lyft, Inc. will post 0.06 EPS for the current year.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now directly owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 10,919 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,242 shares of company stock worth $427,330. Insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

LYFT has been the topic of several recent analyst reports. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, January 6th. DA Davidson increased their price objective on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets upped their target price on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price target on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.84.

Lyft Company Profile

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.