Lyft, Inc. (NASDAQ:LYFT) Stake Increased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 97.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,455 shares of the ride-sharing company’s stock after acquiring an additional 21,992 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Lyft were worth $573,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LYFT. QRG Capital Management Inc. lifted its position in shares of Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after purchasing an additional 903 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Lyft by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after buying an additional 969 shares in the last quarter. XTX Topco Ltd lifted its holdings in Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after buying an additional 1,043 shares during the last quarter. US Bancorp DE grew its position in shares of Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Lyft by 13.8% in the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after acquiring an additional 1,080 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now directly owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock valued at $203,778 in the last three months. Insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT opened at $11.92 on Monday. The company has a market capitalization of $4.98 billion, a PE ratio of 198.67, a PEG ratio of 1.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company’s 50 day moving average price is $13.24 and its 200 day moving average price is $13.79. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Research analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LYFT shares. Barclays decreased their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald decreased their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. DA Davidson lowered their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Citigroup reissued an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, Loop Capital upped their target price on Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Twenty-six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.13.

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.