11,500 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Brooklyn FI LLC

Brooklyn FI LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,500 shares of the ride-sharing company’s stock, valued at approximately $148,000.

A number of other hedge funds have also recently made changes to their positions in LYFT. Xponance Inc. grew its holdings in shares of Lyft by 10.5% in the fourth quarter. Xponance Inc. now owns 43,045 shares of the ride-sharing company’s stock valued at $555,000 after purchasing an additional 4,087 shares in the last quarter. Counterpoint Mutual Funds LLC grew its holdings in shares of Lyft by 97.9% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 44,455 shares of the ride-sharing company’s stock valued at $573,000 after purchasing an additional 21,992 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock valued at $36,000 after purchasing an additional 2,000 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Lyft in the fourth quarter valued at approximately $128,000. Finally, Swiss National Bank grew its holdings in shares of Lyft by 2.4% in the fourth quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company’s stock valued at $9,680,000 after purchasing an additional 17,900 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $11.72 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a fifty day moving average price of $13.10 and a 200 day moving average price of $13.78. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a market cap of $4.90 billion, a PE ratio of 195.33, a P/E/G ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last posted its quarterly 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%. Sell-side analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has authorized a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 11,411 shares of the company’s 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 completion of the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 over the last three months. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Evercore ISI decreased their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. UBS Group dropped their price objective 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. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, January 6th. Finally, Susquehanna lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. 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 currently has a consensus rating of “Hold” and an average target price of $17.03.

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.