Pacer Advisors Inc. Has $38.08 Million Stake in Lyft, Inc. $LYFT

Pacer Advisors Inc. reduced its position in Lyft, Inc. (NASDAQ:LYFT) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,965,777 shares of the ride-sharing company’s stock after selling 448,430 shares during the quarter. Pacer Advisors Inc. owned approximately 0.49% of Lyft worth $38,077,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of LYFT. Norges Bank acquired a new position in Lyft in the fourth quarter valued at $109,987,000. Swedbank AB acquired a new stake in Lyft during the 4th quarter worth about $108,472,000. Contour Asset Management LLC bought a new position in shares of Lyft in the 4th quarter worth about $75,870,000. Victory Capital Management Inc. raised its position in shares of Lyft by 479.1% in the 3rd quarter. Victory Capital Management Inc. now owns 3,580,564 shares of the ride-sharing company’s stock worth $78,808,000 after acquiring an additional 2,962,266 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of Lyft by 2,441.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,857,593 shares of the ride-sharing company’s stock valued at $35,982,000 after purchasing an additional 1,784,494 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Performance

LYFT opened at $14.28 on Friday. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The firm has a market capitalization of $5.42 billion, a PE ratio of 2.08, a P/E/G ratio of 0.85 and a beta of 1.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50-day moving average is $13.97 and its 200 day moving average is $15.70.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. Lyft’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. As a group, research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jill Beggs sold 2,093 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 69,196 shares of company stock worth $992,371. 0.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on LYFT. Oppenheimer started coverage on Lyft in a research note on Wednesday. They set an “outperform” rating for the company. Zacks Research raised shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lowered their price objective on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Roth Mkm reiterated a “buy” rating and set a $23.00 target price on shares of Lyft in a research report on Friday, May 8th. Finally, Canaccord Genuity Group cut their target price on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.93.

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.