Byrne Asset Management LLC Makes New $35,000 Investment in Lyft, Inc. (NASDAQ:LYFT)

Byrne Asset Management LLC acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,700 shares of the ride-sharing company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in Lyft in the 4th quarter worth $445,000. Optimist Retirement Group LLC purchased a new stake in shares of Lyft during the fourth quarter worth about $152,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the 4th quarter valued at about $29,000. Paragon Capital Management Inc. bought a new position in Lyft during the 4th quarter valued at approximately $1,681,000. Finally, Optas LLC lifted its holdings in Lyft by 36.9% in the 4th quarter. Optas LLC now owns 21,226 shares of the ride-sharing company’s stock worth $274,000 after buying an additional 5,720 shares during the period. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

Shares of Lyft stock opened at $14.17 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $14.16 and its 200 day moving average is $13.46. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. On average, equities research analysts forecast that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. TD Cowen increased their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Wedbush lowered their target price on Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Canaccord Genuity Group upped their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.78.

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.