SG Americas Securities LLC Buys New Position in Lyft, Inc. (NASDAQ:LYFT)

SG Americas Securities LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 560,330 shares of the ride-sharing company’s stock, valued at approximately $6,651,000. SG Americas Securities LLC owned about 0.13% of Lyft as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LYFT. Renaissance Technologies LLC raised its position in shares of Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after buying an additional 6,365,727 shares during the last quarter. Two Sigma Advisers LP increased its stake in Lyft by 828.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company’s stock valued at $85,947,000 after acquiring an additional 5,945,000 shares during the period. Two Sigma Investments LP raised its holdings in Lyft by 156.9% in the 4th quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock valued at $103,524,000 after acquiring an additional 4,901,358 shares in the last quarter. Norges Bank bought a new stake in shares of Lyft in the 4th quarter worth approximately $49,599,000. Finally, Capital World Investors lifted its position in shares of Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after acquiring an additional 2,240,478 shares during the period. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

Shares of LYFT stock opened at $15.44 on Friday. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 257.33, a PEG ratio of 1.90 and a beta of 2.22. Lyft, Inc. has a 12 month low of $8.93 and a 12 month 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 stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $13.63.

Lyft (NASDAQ:LYFT) last issued 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). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. Research analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LYFT shares. Bank of America lowered Lyft from a “buy” rating to an “underperform” rating and set a $10.50 target price for the company. in a research note on Thursday, April 3rd. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Friday, May 9th. DA Davidson reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Lyft in a report on Wednesday, April 16th. KeyCorp reiterated a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their price target on shares of Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.40.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director now directly owns 879,498 shares in the company, valued at $13,896,068.40. This trade represents a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director now directly owns 20,467 shares in the company, valued at $335,863.47. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,732 shares of company stock valued at $347,159. Company insiders own 3.07% of the company’s stock.

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.