XTX Topco Ltd Acquires 5,588 Shares of Lyft, Inc. (NASDAQ:LYFT)

XTX Topco Ltd boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,791 shares of the ride-sharing company’s stock after acquiring an additional 5,588 shares during the period. XTX Topco Ltd’s holdings in Lyft were worth $617,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its position in shares of Lyft by 3.8% in the 4th 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 in the last quarter. Sanctuary Advisors LLC boosted its holdings in Lyft by 3.5% in the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock worth $363,000 after acquiring an additional 969 shares in the last quarter. US Bancorp DE grew its stake in shares of Lyft by 2.6% in the fourth 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 during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Lyft by 42.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock valued at $46,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Lyft by 13.8% in the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock worth $115,000 after purchasing an additional 1,080 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYFT has been the subject of several recent analyst reports. Oppenheimer assumed coverage on shares of Lyft in a report on Wednesday. They issued an “outperform” rating and a $15.00 target price for the company. Citigroup reaffirmed an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. KeyCorp reissued a “sector weight” rating on shares of Lyft in a report on Wednesday, March 26th. Morgan Stanley lowered their price target on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus target price of $16.45.

Lyft Price Performance

LYFT stock opened at $11.16 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 company’s fifty day moving average price is $12.02 and its 200-day moving average price is $13.65. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company has a market capitalization of $4.66 billion, a PE ratio of 186.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT) last announced 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 return on equity of 8.03% and a net margin of 0.39%. On average, equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has initiated a stock repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in 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 often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction 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 sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. This represents 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 through this link. Also, 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 owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,407 shares of company stock valued at $203,778. 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.