EMC Capital Management Sells 3,038 Shares of Lyft, Inc. (NASDAQ:LYFT)

EMC Capital Management cut its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 46.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,500 shares of the ride-sharing company’s stock after selling 3,038 shares during the period. EMC Capital Management’s holdings in Lyft were worth $45,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LYFT. Pacer Advisors Inc. bought a new stake in Lyft in the 3rd quarter valued at $90,604,000. Maple Rock Capital Partners Inc. raised its position in Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares during the period. Point72 Asset Management L.P. acquired a new stake in Lyft during the third quarter valued at approximately $13,430,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Lyft by 10,225.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after purchasing an additional 420,274 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LYFT. Roth Mkm raised their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Thursday, November 7th. TD Cowen upped their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price target on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Susquehanna raised their price objective on shares of Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.84.

Lyft Price Performance

Shares of LYFT opened at $13.54 on Friday. The stock has a market cap of $5.62 billion, a P/E ratio of -84.63, a price-to-earnings-growth ratio of 1.74 and a beta of 2.14. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The stock’s 50-day moving average price is $14.51 and its two-hundred day moving average price is $13.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm earned ($0.02) EPS. Lyft’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities analysts predict that Lyft, Inc. will post 0.06 earnings per share for the current year.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now directly owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last quarter. Company insiders own 3.07% of the company’s stock.

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.