PDT Partners LLC Takes Position in Lyft, Inc. (NASDAQ:LYFT)

PDT Partners LLC purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 334,000 shares of the ride-sharing company’s stock, valued at approximately $4,309,000. PDT Partners LLC owned 0.08% of Lyft at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of LYFT. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the fourth quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in Lyft in the fourth quarter worth about $31,000. Byrne Asset Management LLC purchased a new stake in Lyft during the fourth quarter valued at approximately $35,000. Plato Investment Management Ltd bought a new position in shares of Lyft during the 4th quarter valued at approximately $35,000. Finally, Harbour Investments Inc. raised its holdings in Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock valued at $36,000 after buying an additional 2,000 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $12.26 on Tuesday. The firm has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $13.62. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 204.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $19.07.

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 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, equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has approved a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,407 shares of company stock worth $203,778. Company insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

LYFT has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. DA Davidson reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. Oppenheimer began coverage on shares of Lyft in a research report on Wednesday, April 16th. They set an “outperform” rating and a $15.00 target price on the stock. Loop Capital dropped their price target on Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald lowered their price objective 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. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $16.45.

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.