Healthcare of Ontario Pension Plan Trust Fund Takes $484,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 25,014 shares of the ride-sharing company’s stock, valued at approximately $484,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Lyft during the 4th quarter worth approximately $94,687,000. Kodai Capital Management LP bought a new stake in shares of Lyft in the 4th quarter worth approximately $26,069,000. Bank of Nova Scotia bought a new stake in shares of Lyft in the 4th quarter worth approximately $21,433,000. BNP Paribas Financial Markets raised its holdings in shares of Lyft by 126.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after purchasing an additional 1,080,009 shares during the period. Finally, Ogborne Capital Management LLC bought a new stake in shares of Lyft in the 4th quarter worth approximately $14,990,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $12.21 on Friday. The firm has a market capitalization of $4.93 billion, a PE ratio of -25.98 and a beta of 2.06. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The firm’s 50-day moving average price is $14.21 and its 200 day moving average price is $15.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. As a group, sell-side analysts expect that Lyft, Inc. will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total transaction of $101,010.00. Following the sale, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total transaction of $101,010.00. Following the sale, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The disclosure for this sale can be found here. Insiders have sold a total of 43,333 shares of company stock valued at $680,974 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LYFT. Truist Financial lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Loop Capital raised 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 Friday, June 7th. Citigroup boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Piper Sandler reissued an “overweight” rating and set a $24.00 target price (up previously from $23.00) on shares of Lyft in a report on Friday, June 7th. Finally, Morgan Stanley boosted their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.04.

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.