Vinva Investment Management Ltd Sells 1,016 Shares of Lyft, Inc. (NASDAQ:LYFT)

Vinva Investment Management Ltd decreased its stake in Lyft, Inc. (NASDAQ:LYFT) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,746 shares of the ride-sharing company’s stock after selling 1,016 shares during the period. Vinva Investment Management Ltd’s holdings in Lyft were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in Lyft in the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft in the 4th quarter worth $29,000. ORG Wealth Partners LLC purchased a new position in Lyft in the 4th quarter worth $31,000. Plato Investment Management Ltd purchased a new position in Lyft in the 4th quarter worth $35,000. Finally, Byrne Asset Management LLC purchased a new position in Lyft in the 4th quarter worth $35,000. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 2.0 %

Shares of Lyft stock opened at $11.98 on Friday. 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 stock has a market capitalization of $5.01 billion, a PE ratio of 199.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.67. The company has a 50-day simple moving average of $13.05 and a two-hundred day simple moving average of $13.77.

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

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

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred 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. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,407 shares of company stock valued at $203,778. Insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research report on Monday, March 17th. Cantor Fitzgerald cut their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Evercore ISI cut their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Wedbush cut their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Barclays cut their price target on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Twenty-six 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.03.

Lyft 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.