Boston Partners Purchases 1,970 Shares of Lyft, Inc. $LYFT

Boston Partners boosted its position in Lyft, Inc. (NASDAQ:LYFT) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,903 shares of the ride-sharing company’s stock after acquiring an additional 1,970 shares during the quarter. Boston Partners’ holdings in Lyft were worth $604,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LYFT. Vanguard Group Inc. grew its stake in shares of Lyft by 5.7% during the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after buying an additional 2,046,639 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after buying an additional 1,224,056 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Lyft by 156.9% during the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock worth $103,524,000 after buying an additional 4,901,358 shares during the last quarter. Capital World Investors grew its stake in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after buying an additional 2,240,478 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Lyft by 828.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company’s stock worth $85,947,000 after buying an additional 5,945,000 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jill Beggs sold 1,572 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the transaction, the director directly owned 20,467 shares of the company’s stock, valued at $335,863.47. This represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the transaction, the chief executive officer directly owned 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. The Goldman Sachs Group raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 9th. Wells Fargo & Company boosted their target price on shares of Lyft from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Lyft from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Lyft from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.70.

Lyft Trading Up 8.2%

Shares of LYFT stock opened at $15.82 on Monday. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $13.78. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 65.92, a PEG ratio of 2.58 and a beta of 2.26.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.