Point72 Hong Kong Ltd Takes Position in Lyft, Inc. (NASDAQ:LYFT)

Point72 Hong Kong Ltd bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 73,435 shares of the ride-sharing company’s stock, valued at approximately $936,000.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Lyft during the third quarter worth $27,000. International Assets Investment Management LLC purchased a new stake in Lyft during the 2nd quarter worth about $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft in the 2nd quarter valued at about $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lyft in the 3rd quarter valued at about $38,000. Finally, Quarry LP grew its position in shares of Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on LYFT. UBS Group lifted their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lowered their target price on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Evercore ISI raised their price target on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Loop Capital decreased their target price on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.55.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the sale, the insider now owns 760,089 shares of the company’s stock, valued at $9,121,068. The trade was a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,990 shares of company stock worth $317,333. Corporate insiders own 3.07% of the company’s stock.

Lyft Trading Up 1.0 %

NASDAQ LYFT opened at $17.36 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.20 billion, a P/E ratio of -108.50, a P/E/G ratio of 5.04 and a beta of 2.04. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The firm has a 50-day moving average price of $14.70 and a 200 day moving average price of $13.56.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities research analysts expect that Lyft, Inc. will post 0.08 EPS for the current year.

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.