Vista Investment Partners II LLC Invests $2.38 Million in Lyft, Inc. $LYFT

Vista Investment Partners II LLC acquired a new position in Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 122,972 shares of the ride-sharing company’s stock, valued at approximately $2,382,000.

A number of other hedge funds have also recently made changes to their positions in the business. Empowered Funds LLC increased its stake in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after buying an additional 2,921 shares during the period. Focus Partners Wealth increased its stake in shares of Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after buying an additional 15,621 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Lyft in the second quarter worth $470,000. Invesco Ltd. increased its stake in shares of Lyft by 87.5% in the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after buying an additional 497,118 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Lyft by 207.4% in the second quarter. Cerity Partners LLC now owns 551,140 shares of the ride-sharing company’s stock worth $8,686,000 after buying an additional 371,853 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley set a $17.00 target price on shares of Lyft in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lyft from $25.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, February 11th. JPMorgan Chase & Co. decreased their target price on shares of Lyft from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Mizuho decreased their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Wedbush decreased their target price on shares of Lyft from $16.00 to $13.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.55.

Lyft Stock Down 1.8%

Shares of Lyft stock opened at $13.22 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $18.16. The company has a market cap of $5.26 billion, a P/E ratio of 1.94, a PEG ratio of 0.82 and a beta of 1.85. Lyft, Inc. has a 12-month low of $10.49 and a 12-month high of $25.54.

Lyft announced that its board has authorized a share buyback program on Tuesday, February 10th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Lyft

In other news, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director directly owned 32,185 shares of the company’s stock, valued at $447,049.65. This represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total transaction of $314,691.30. Following the completion of the sale, the insider directly owned 696,850 shares in the company, valued at $9,268,105. This represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,038 shares of company stock valued at $416,841 in the last three months. 3.07% of the stock is currently owned by company insiders.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.