Globeflex Capital L P Invests $128,000 in Lyft, Inc. (NASDAQ:LYFT)

Globeflex Capital L P acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,920 shares of the ride-sharing company’s stock, valued at approximately $128,000.

A number of other large investors also recently bought and sold shares of the stock. Swiss National Bank lifted its holdings in shares of Lyft by 2.4% in the 4th quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company’s stock worth $9,680,000 after acquiring an additional 17,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Lyft by 25.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,290,461 shares of the ride-sharing company’s stock valued at $29,547,000 after purchasing an additional 468,735 shares during the period. Daiwa Securities Group Inc. acquired a new position in Lyft during the fourth quarter worth $1,370,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lyft by 6.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,914 shares of the ride-sharing company’s stock worth $928,000 after buying an additional 4,246 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Lyft by 37.6% in the fourth quarter. AlphaQuest LLC now owns 30,928 shares of the ride-sharing company’s stock valued at $399,000 after buying an additional 8,448 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their target price on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. UBS Group reduced their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler restated an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Susquehanna reduced their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Cantor Fitzgerald dropped their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus price target of $17.13.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $11.92 on Friday. The stock has a market cap of $4.98 billion, a P/E ratio of 198.67, a P/E/G ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The stock has a 50 day moving average of $13.24 and a two-hundred day moving average of $13.78. 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 (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director John Patrick Zimmer sold 2,424 shares of the business’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 transaction, the director now owns 911,922 shares in the company, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now directly owns 297,640 shares of the company’s stock, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,407 shares of company stock valued at $203,778. Insiders own 3.07% of the company’s stock.

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.