Voya Investment Management LLC Purchases 5,883 Shares of Lyft, Inc. (NASDAQ:LYFT)

Voya Investment Management LLC grew its holdings in Lyft, Inc. (NASDAQ:LYFT) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 248,536 shares of the ride-sharing company’s stock after purchasing an additional 5,883 shares during the quarter. Voya Investment Management LLC’s holdings in Lyft were worth $3,206,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LYFT. Vanguard Group Inc. grew its stake in shares of Lyft by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock worth $464,434,000 after purchasing an additional 984,907 shares during the period. Pacer Advisors Inc. boosted its holdings in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Capital World Investors boosted its position in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after purchasing an additional 2,240,478 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Lyft by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company’s stock worth $81,419,000 after acquiring an additional 443,109 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LYFT shares. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Thursday, April 17th. Morgan Stanley reduced their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. BMO Capital Markets decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, January 6th. Finally, 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 note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus target price of $16.45.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the transaction, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction dated 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 owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,143 shares of company stock worth $486,841 in the last three months. 3.07% of the stock is owned by corporate insiders.

Lyft Trading Up 1.5 %

Shares of LYFT opened at $12.65 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 210.83, a PEG ratio of 1.90 and a beta of 2.13. The business’s fifty day moving average is $11.76 and its 200-day moving average is $13.60.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) 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%. Equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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

Lyft Company 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.