Maverick Capital Ltd. Boosts Stake in Lyft, Inc. (NASDAQ:LYFT)

Maverick Capital Ltd. lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 2,353.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,540 shares of the ride-sharing company’s stock after buying an additional 16,825 shares during the period. Maverick Capital Ltd.’s holdings in Lyft were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYFT. Janney Montgomery Scott LLC lifted its stake in Lyft by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,795 shares of the ride-sharing company’s stock valued at $429,000 after acquiring an additional 164 shares during the period. Berman Capital Advisors LLC lifted its position in Lyft by 75.7% during the first quarter. Berman Capital Advisors LLC now owns 543 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 234 shares during the period. Clarius Group LLC boosted its holdings in Lyft by 2.5% in the first quarter. Clarius Group LLC now owns 10,076 shares of the ride-sharing company’s stock worth $637,000 after purchasing an additional 244 shares during the last quarter. Global Retirement Partners LLC grew its position in Lyft by 2.9% in the 1st quarter. Global Retirement Partners LLC now owns 9,692 shares of the ride-sharing company’s stock worth $612,000 after purchasing an additional 269 shares during the period. Finally, Capital Advisory Group Advisory Services LLC lifted its holdings in shares of Lyft by 17.5% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 1,910 shares of the ride-sharing company’s stock valued at $94,000 after buying an additional 285 shares during the period. Institutional investors own 81.22% of the company’s stock.

Shares of Lyft stock opened at $55.77 on Thursday. The company’s 50 day moving average price is $56.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.16 and a quick ratio of 1.16. Lyft, Inc. has a 12 month low of $21.34 and a 12 month high of $68.28.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 4th. The ride-sharing company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.63. Lyft had a negative net margin of 88.32% and a negative return on equity of 80.71%. The firm had revenue of $609.00 million during the quarter, compared to analyst estimates of $554.70 million. During the same period last year, the firm posted ($1.31) earnings per share. Lyft’s revenue for the quarter was down 36.3% compared to the same quarter last year. Research analysts predict that Lyft, Inc. will post -2.51 earnings per share for the current year.

In other news, CEO Logan Green sold 36,000 shares of Lyft stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $58.19, for a total value of $2,094,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 4,514 shares of the business’s stock in a transaction that occurred on Wednesday, May 26th. The shares were sold at an average price of $53.77, for a total value of $242,717.78. The disclosure for this sale can be found here. Insiders sold a total of 171,051 shares of company stock valued at $10,830,870 over the last three months. Corporate insiders own 22.86% of the company’s stock.

LYFT has been the topic of a number of recent research reports. Zacks Investment Research downgraded Lyft from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Tuesday, May 11th. BTIG Research raised their price objective on shares of Lyft from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 27th. Nomura began coverage on shares of Lyft in a report on Tuesday, April 20th. They set a “neutral” rating for the company. lifted their price target on shares of Lyft from $76.00 to $80.00 in a research note on Thursday, May 6th. Finally, Daiwa Capital Markets upgraded Lyft from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $59.00 to $56.00 in a research note on Monday, May 10th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $69.69.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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