Lyft, Inc. (NASDAQ:LYFT) Position Boosted by Entropy Technologies LP

Entropy Technologies LP increased its holdings in Lyft, Inc. (NASDAQ:LYFT) by 86.3% during the fourth quarter, Holdings Channel reports. The firm owned 149,898 shares of the ride-sharing company’s stock after purchasing an additional 69,436 shares during the period. Entropy Technologies LP’s holdings in Lyft were worth $1,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lyft by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after buying an additional 80,675 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after acquiring an additional 1,735,208 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Lyft by 3.8% during the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after purchasing an additional 235,510 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its holdings in shares of Lyft by 84.8% during 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 during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on LYFT. UBS Group dropped their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Roth Mkm increased their price objective on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, January 6th. Finally, Evercore ISI lifted their price target on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.78.

Insider Activity

In related news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction 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. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

LYFT opened at $14.17 on Monday. The company’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $13.48. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $5.88 billion, a P/E ratio of -88.56, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16.

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.