Lyft, Inc. (NASDAQ:LYFT) Shares Sold by AXQ Capital LP

AXQ Capital LP trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 69.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,602 shares of the ride-sharing company’s stock after selling 76,722 shares during the period. AXQ Capital LP’s holdings in Lyft were worth $433,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in Lyft by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock worth $5,146,000 after buying an additional 49,138 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Lyft by 32.4% in 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 during the period. Paragon Capital Management Inc. bought a new stake in Lyft in the 4th quarter valued at about $1,681,000. KBC Group NV boosted its stake in Lyft by 354.9% during the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after purchasing an additional 207,672 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Lyft by 33.9% in the 4th quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company’s stock worth $50,031,000 after purchasing an additional 981,186 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LYFT. Truist Financial reduced their price objective on Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Barclays cut their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Susquehanna decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Wedbush dropped their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Twenty-six investment 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.03.

Lyft Stock Up 2.0 %

NASDAQ:LYFT opened at $11.98 on Friday. The business’s fifty day moving average price is $13.05 and its 200 day moving average price is $13.79. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 199.67, a PEG ratio of 1.90 and a beta of 2.15. 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 $20.40.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, sell-side analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Lyft 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.