Groupama Asset Managment Takes $12.90 Million Position in Lyft, Inc. (NASDAQ:LYFT)

Groupama Asset Managment acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,000,000 shares of the ride-sharing company’s stock, valued at approximately $12,900,000. Groupama Asset Managment owned 0.24% of Lyft at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock valued at $464,434,000 after purchasing an additional 984,907 shares during the period. Pacer Advisors Inc. grew its stake in Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after acquiring an additional 1,735,208 shares in the last quarter. Geode Capital Management LLC raised its position in Lyft by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company’s stock worth $81,419,000 after acquiring an additional 443,109 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its holdings in shares of Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after purchasing an additional 2,838,000 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $11.87 on Tuesday. The firm’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $13.84. The stock has a market cap of $4.96 billion, a P/E ratio of 197.83, a P/E/G ratio of 1.90 and a beta of 2.15. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.64.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI lowered their target price on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, January 6th. Cantor Fitzgerald dropped their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. UBS Group reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Citigroup restated an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. Twenty-seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.03.

Insider Transactions at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft 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 in the company, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,407 shares of company stock valued at $203,778. Corporate 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.