20,760 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by 111 Capital

111 Capital bought a new position in Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,760 shares of the ride-sharing company’s stock, valued at approximately $268,000.

A number of other hedge funds also recently bought and sold shares of LYFT. QRG Capital Management Inc. lifted its position in Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after purchasing an additional 903 shares during the last quarter. Guggenheim Capital LLC lifted its position in Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock valued at $207,000 after purchasing an additional 970 shares during the last quarter. US Bancorp DE lifted its position in Lyft by 2.6% in the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after purchasing an additional 1,045 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Lyft by 42.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock valued at $46,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its position in Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on LYFT shares. Wells Fargo & Company lowered their price objective on Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Barclays boosted their price objective on Lyft from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Evercore ISI decreased their target price on Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Wedbush decreased their target price on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus price target of $16.63.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $15.15 on Friday. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07. 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 business has a fifty day moving average price of $13.16 and a 200-day moving average price of $13.74. The company has a market capitalization of $6.33 billion, a PE ratio of 252.50, a PEG ratio of 1.90 and a beta of 2.14.

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

Lyft declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director now directly owns 879,498 shares of the company’s stock, valued at $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider now directly owns 959,697 shares in the company, valued at $11,948,227.65. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock valued at $347,159 over the last ninety days. Insiders own 3.07% of the company’s stock.

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.