Two Sigma Investments LP Grows Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Two Sigma Investments LP grew its position in Lyft, Inc. (NASDAQ:LYFT) by 156.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,025,099 shares of the ride-sharing company’s stock after acquiring an additional 4,901,358 shares during the quarter. Two Sigma Investments LP’s holdings in Lyft were worth $103,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC grew its holdings in shares of Lyft by 98.4% in the fourth quarter. True Wealth Design LLC now owns 4,264 shares of the ride-sharing company’s stock worth $55,000 after purchasing an additional 2,115 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Lyft in the fourth quarter worth about $279,000. Shellback Capital LP bought a new position in shares of Lyft in the fourth quarter worth about $1,935,000. Sherbrooke Park Advisers LLC grew its holdings in shares of Lyft by 39.6% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 111,105 shares of the ride-sharing company’s stock worth $1,433,000 after purchasing an additional 31,500 shares during the last quarter. Finally, Point72 Italy S.r.l. bought a new position in Lyft during the 4th quarter worth about $2,450,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Logan Green sold 11,411 shares of Lyft stock in a transaction 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 transaction, 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 38,143 shares of company stock valued at $486,841 in the last 90 days. 3.07% of the stock is owned by insiders.

Lyft Trading Up 3.3%

Shares of LYFT opened at $16.77 on Monday. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $12.32 and its two-hundred day moving average is $13.71. The stock has a market cap of $7.01 billion, a PE ratio of 279.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Loop Capital dropped their target price on shares of Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. BMO Capital Markets decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Wedbush decreased their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Susquehanna raised their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Finally, The Goldman Sachs Group raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lyft currently has an average rating of “Hold” and a consensus target price of $16.56.

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.