Neuberger Berman Group LLC Raises Stock Holdings in Lyft, Inc. $LYFT

Neuberger Berman Group LLC grew its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 101.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 49,121 shares of the ride-sharing company’s stock after acquiring an additional 24,680 shares during the quarter. Neuberger Berman Group LLC’s holdings in Lyft were worth $774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Lyft by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock valued at $115,000 after acquiring an additional 2,871 shares during the last quarter. Maxi Investments CY Ltd boosted its stake in shares of Lyft by 320.4% during the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock worth $11,228,000 after purchasing an additional 720,933 shares during the period. Joule Financial LLC bought a new position in Lyft during the 2nd quarter valued at about $760,000. Ashton Thomas Private Wealth LLC purchased a new stake in Lyft in the 1st quarter worth about $607,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Lyft in the first quarter worth about $2,191,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In other Lyft news, CEO John David Risher purchased 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the transaction, the insider owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna upped their target price on Lyft from $14.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Wells Fargo & Company upped their price objective on Lyft from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Roth Capital set a $25.00 target price on Lyft and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group boosted their target price on shares of Lyft from $15.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, TD Cowen upped their price target on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.85.

Lyft Price Performance

LYFT opened at $21.02 on Friday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 55.32, a PEG ratio of 2.09 and a beta of 2.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $25.54. The business’s fifty day simple moving average is $21.10 and its 200-day simple moving average is $17.73.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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.