Lyft, Inc. (NASDAQ:LYFT) Stock Holdings Increased by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its stake in Lyft, Inc. (NASDAQ:LYFT) by 14.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 438,122 shares of the ride-sharing company’s stock after acquiring an additional 54,857 shares during the quarter. Gotham Asset Management LLC’s holdings in Lyft were worth $5,652,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC raised its position in Lyft by 11.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 12,864 shares of the ride-sharing company’s stock valued at $166,000 after acquiring an additional 1,277 shares in the last quarter. Pallas Capital Advisors LLC raised its position in Lyft by 42.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 31,181 shares of the ride-sharing company’s stock valued at $402,000 after acquiring an additional 9,342 shares in the last quarter. Park Avenue Securities LLC bought a new position in Lyft during the fourth quarter valued at approximately $388,000. Harel Insurance Investments & Financial Services Ltd. raised its position in Lyft by 10,225.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after acquiring an additional 420,274 shares in the last quarter. Finally, KBC Group NV raised its position in Lyft by 354.9% during the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after acquiring an additional 207,672 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LYFT shares. The Goldman Sachs Group raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, May 9th. UBS Group raised their price objective on shares of Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. KeyCorp reissued a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Morgan Stanley dropped their price target on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Finally, BMO Capital Markets dropped their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.56.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft 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 sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now owns 959,697 shares in the company, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock worth $486,841 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Lyft Trading Down 1.0%

Shares of Lyft stock opened at $17.03 on Wednesday. The company’s fifty day simple moving average is $12.03 and its 200-day simple moving average is $13.64. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 283.83, a PEG ratio of 1.90 and a beta of 2.14. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has initiated a share buyback 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 an indication that the company’s board believes its shares are undervalued.

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.